Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -QuantumFunds
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-13 17:55:46
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! (1149)
Related
- The Super Bowl could end in a 'three
- How the Total Solar Eclipse Will Impact Each Zodiac Sign
- New York can take legal action against county’s ban on female transgender athletes, judge says
- Bachelor Nation's Daisy Kent Reveals Why She Turned Down the Opportunity to Be the Bachelorette
- Arkansas State Police probe death of woman found after officer
- Finland will keep its border with Russia closed until further notice over migration concerns
- John Passidomo, husband of Florida Senate President, dies in Utah hiking accident
- Messi, Inter Miami confront Monterrey after 2-1 loss and yellow card barrage, report says
- Former longtime South Carolina congressman John Spratt dies at 82
- The Daily Money: Fewer of us are writing wills
Ranking
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- The Lilly Pulitzer Surprise Sale Just Started: You’re Running Out of Time to Shop Rare 60% Off Deals
- US jobs report for March is likely to point to slower but still-solid hiring
- Expand or stand pat? NCAA faces dilemma about increasing tournament field as ratings soar
- Intel's stock did something it hasn't done since 2022
- Voodoo doll, whoopie cushion, denture powder among bizarre trash plucked from New Jersey beaches
- NFL power rankings: Bills, Cowboys among teams taking big hits this offseason
- Gay rights activists call for more international pressure on Uganda over anti-gay law
Recommendation
McConnell absent from Senate on Thursday as he recovers from fall in Capitol
'Great news': California snowpack above average for 2nd year in a row
Suki Waterhouse Shares First Photo of Her and Robert Pattinson's Baby
Judge denies Trump bid to dismiss classified documents prosecution
Trump invites nearly all federal workers to quit now, get paid through September
Carla Gugino reflects on being cast as a mother in 'Spy Kids' in her 20s: 'Totally impossible'
This Los Angeles heist sounds like it came from a thriller novel. Thieves stole $30 million in cash
1 killed, 2 others hospitalized after crane section falls from a South Florida high-rise