Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -NextFrontier Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
EchoSense Quantitative Think Tank Center View
Date:2025-04-10 07:38:08
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! (7738)
Related
- Paris Olympics live updates: Quincy Hall wins 400m thriller; USA women's hoops in action
- Songs and Pictures For Climate Change: A Playlist for the Planet
- The 2021 Hurricane Season Wrapped
- See How Nick Cannon's 11 Kids Celebrated Easter
- Judge says Mexican ex-official tried to bribe inmates in a bid for new US drug trial
- Jonas Brothers Twin With Molly Shannon's Sally O'Malley on SNL
- Allison Holker and Kids Celebrate First Easter Since Stephen tWitch Boss' Death
- Russian investigative reporter Elena Milashina savagely beaten in Chechnya, rights groups say
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- G-20 leaders commit to reach carbon neutrality, but leave the target date in question
Ranking
- Giants, Lions fined $200K for fights in training camp joint practices
- Heavy rains bring flooding and mudslides to the Pacific Northwest and Canada
- As Climate Summit Moves Ahead, The World's Biggest Polluters Are Behind
- New species may have just been discovered in rare octopus nursery off Costa Rica
- Jury selection set for Monday for ex-politician accused of killing Las Vegas investigative reporter
- At COP26, nations strike a climate deal with coal compromise
- Rising sea levels threaten the lives and livelihood of those on a fragile U.S. coast
- Treasury Secretary Janet Yellen to go to China
Recommendation
From bitter rivals to Olympic teammates, how Lebron and Steph Curry became friends
Why Bachelor Nation's Tayshia Adams and Summer House's Luke Gulbranson Are Sparking Dating Rumors
Shapermint 24-Hour Deal: Save $25 on Top-Rated Shapewear and Get a Smooth Look for Sizes Small to 4XL
In Beijing, Yellen raises concerns over Chinese actions against U.S. businesses
Former Milwaukee hotel workers charged with murder after video shows them holding down Black man
The Sun Belt is making a big play for the hot electric vehicle market
Get $141 Worth of Peter Thomas Roth Top-Selling Skincare Products for Just $39
Biden to meet with King Charles on upcoming European trip