Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthMindset Learning
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 00:07:58
GEORGETOWN, Ky. (AP) — Toyota said Thursday it will build a new paint facility as part of a $922 million investment at its factory complex in Georgetown, Kentucky, making it the second big addition announced this year at the automaker’s largest global manufacturing plant.
In February, the company said it would invest $1.3 billionat its Kentucky complex, in part so it can build an all-new three-row electric SUV to be sold in the U.S.
Neither project will add any new jobs at the facility, which now employs about 10,000 workers. However, the investments reinforce Toyota’s commitment to long-term job stability, the company said.
The new paint facility, scheduled to open in 2027, will add 1 million square feet of capacity while decreasing carbon emissions by 30% and water usage by 1.5 million gallons per year, Toyota said.
It will enable the company to offer more diverse color options for its vehicles, the company said.
“Toyota’s commitment to advanced paint technologies goes beyond aesthetics,” said Kerry Creech, president of Toyota Kentucky. “It encompasses efficiency, sustainability and quality, leading the industry in environmentally responsible manufacturing.”
The project also will increase flexibility for future vehicle production and advances Toyota’s goal to achieve zero carbon emissions by 2050, the automaker said.
Toyota’s investment in the Bluegrass State has surpassed $11 billion since breaking ground at the central Kentucky site in 1986. Georgetown is 16 miles (26 kilometers) north of Lexington, Kentucky.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (1352)
Related
- Former longtime South Carolina congressman John Spratt dies at 82
- Texas coach Steve Sarkisian provides update on quarterback Quinn Ewers' status
- Eagles vs. Dolphins Sunday Night Football highlights: Jalen Hurts, A.J. Brown power Philly
- Georgetown coach Tasha Butts dies after 2-year battle with breast cancer
- Highlights from Trump’s interview with Time magazine
- Man charged with 83 counts of attempted murder after threat on Alaska Airlines flight
- Tesla, Ford and Kia among 120,000 vehicles recalled: Check car recalls here
- Horoscopes Today, October 21, 2023
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Zach Edey named unanimous AP preseason All-American, joined by Kolek, Dickinson, Filipowski, Bacot
Ranking
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Two men claim million-dollar prizes from New York Lottery, one from historic July 19 Powerball drawing
- Titans trade 2-time All-Pro safety Kevin Byard to Eagles, AP source says
- Toby Keith announces Las Vegas concerts amid cancer battle: 'Get the band back together'
- This was the average Social Security benefit in 2004, and here's what it is now
- Dwayne Johnson Slams Paris Wax Figure for Missing Important Details
- This procedure is banned in the US. Why is it a hot topic in fight over Ohio’s abortion amendment?
- Reese Witherspoon and Ryan Phillippe Share Sweet Tributes to Son Deacon on His 20th Birthday
Recommendation
'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
Danish deputy prime minister leaves politics but his party stays on in the center-right government
These six NBA coaches are on the hot seat, but maybe not for the reasons you think
Prominent German leftist to launch a new party that could eat into far-right’s support
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
'Harry Potter' is having a moment again. Here's why.
France completes withdrawal of troops from northern base in Niger as part of planned departure
Coach keeps QB Deshaun Watson on sideline as Browns upend Colts: 'I wanted to protect him'