Current:Home > NewsToyota 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
TradeEdge Exchange View
Date:2025-04-09 13:45:09
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! (8)
Related
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Nicki Minaj apologizes for postponed concert after incident in Amsterdam
- Stan Wawrinka, who is 39, beats Andy Murray, who is 37, at the French Open. Alcaraz and Osaka win
- See Brad Pitt and Angelina Jolie's Daughter Shiloh Grow Up During Rare Red Carpet Moments
- The Best Stocking Stuffers Under $25
- ‘Furiosa’ sneaks past ‘Garfield’ to claim No. 1 spot over Memorial Day holiday weekend
- Kyle Larson hopes 'it’s not the last opportunity I have to try the Double'
- Severe storms tear through Texas, Arkansas and Oklahoma, killing at least 14
- DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
- Athletic Club's Iñaki Williams played with shard of glass in his foot for 2 years
Ranking
- Federal hiring is about to get the Trump treatment
- Atlanta Braves' Ronald Acuña Jr., 2023 NL MVP, out for season with torn ACL
- Jason Kelce Purrfectly Trolls Brother Travis Kelce With Taylor Swift Cat Joke
- Why Jennifer Love Hewitt Watches Pimple Popping Videos Before Filming Difficult Scenes
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Ryan Phillippe Shares Hot Throwback Photo With Ex Reese Witherspoon
- One family lost 2 sons during WWII. It took 80 years to bring the last soldier home.
- Ancient Ohio tribal site where golfers play is changing hands — but the price is up to a jury
Recommendation
Rylee Arnold Shares a Long
Kaapo Kakko back in lineup for Rangers, taking spot of injured Jimmy Vesey
Grayson Murray, two-time PGA tour winner, dies at 30
2024 NCAA Division I baseball tournament: College World Series schedule, times, TV info
Rylee Arnold Shares a Long
Manhunt in Louisiana still on for 2 escapees, including 1 homicide suspect
Storms kill at least 21 in 4 states as spate of deadly weather continues
Tennessee leads NCAA baseball tournament field. Analyzing the College World Series bracket, schedule