Current:Home > FinanceToyota 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:2025-04-16 05:30:30
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! (5685)
Related
- Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
- Grant program for Black women entrepreneurs blocked by federal appeals court
- Tim Wakefield, Red Sox World Series Champion Pitcher, Dead at 57
- Watch little girl race across tarmac to Navy dad returning home
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Jailed Maldives’ ex-president transferred to house arrest after his party candidate wins presidency
- Inmate accused of killing corrections officer at Georgia prison
- European Parliament president backs UN naming an envoy to help restart Cyprus peace talks
- FACT FOCUS: Inspector general’s Jan. 6 report misrepresented as proof of FBI setup
- Tropical Storm Philippe threatens flash floods Monday in Leeward Islands, forecasters say
Ranking
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Video shows bloodied Black man surrounded by officers during Florida traffic stop
- Africa at a crossroads as more democracies fall to military coups, experts say
- Ryan Blaney edges Kevin Harvick at Talladega, advances to third round of NASCAR playoffs
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- For National Coffee Day, see top 20 US cities for coffee lovers
- European soccer body UEFA’s handling of Russia and Rubiales invites scrutiny on values and process
- A populist, pro-Russia ex-premier looks headed for victory in Slovakia’s parliamentary elections
Recommendation
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Julianne Moore channeled Mary Kay Letourneau for Netflix's soapy new 'May December'
Lane Kiffin finally gets signature win as Ole Miss outlasts LSU in shootout for the ages
Yemen’s state-run airline suspends the only route out of Sanaa over Houthi restrictions on its funds
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Yes, Pete Davidson's Dating History Was Stacked Well Before He Was Linked to Madelyn Cline
Bay Area Subway franchises must pay $1 million for endangering children, stealing checks
For National Coffee Day, see top 20 US cities for coffee lovers