Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Aspire Money Growth
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
NovaQuant Quantitative Think Tank Center View
Date:2025-04-06 17:32:34
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! (9575)
Related
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Federal judge deals another serious blow to proposed copper-nickel mine on edge Minnesota wilderness
- New findings revealed in Surfside condo collapse investigation
- Judge says protections for eastern hellbender should be reconsidered
- The Grammy nominee you need to hear: Esperanza Spalding
- Former crypto executive the latest to face charges in collapse of FTX exchange
- The 2023 CMA Awards Nominations Are Finally Here: See the List
- Paqui removes 2023 'One Chip Challenge' from store shelves, citing teen use
- What to watch: O Jolie night
- District attorney in Georgia election case against Trump and others seeks protections for jurors
Ranking
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- 3 sailors rescued after sharks attack and partially destroy their inflatable boat off Australian coast
- Thousands rally in support of Israel’s judicial overhaul before a major court hearing next week
- Teen Mom's Maci Bookout Shares How Ryan Edwards' Overdose Impacted Their Son Bentley
- Small twin
- Police respond after human skull found in Goodwill donation box in Arizona
- Sea lion with knife 'embedded' in face rescued in California
- U.S. gives Ukraine armor-piercing rounds in $175 million package
Recommendation
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Voting online is very risky. But hundreds of thousands of people are already doing it
Judge says protections for eastern hellbender should be reconsidered
Marina owner convicted in fatal 2008 boat crash settles new environmental protection case
McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
Jets’ Aaron Rodgers shows support for unvaccinated tennis star Novak Djokovic
YouTuber Ruby Franke and her business partner each charged with 6 counts of aggravated child abuse
Danny Masterson's Lawyer Speaks Out After Actor Is Sentenced to 30 Years to Life in Prison