Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -TradeWisdom
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 19:07:42
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! (6)
Related
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- Migrant girl with illness dies in U.S. custody, marking fourth such death this year
- Activists Eye a Superfund Reboot Under Biden With a Focus on Environmental Justice and Climate Change
- How Comedian Matt Rife Captured the Heart of TikTok—And Hot Mom Christina
- South Korean president's party divided over defiant martial law speech
- A Week After the Pacific Northwest Heat Wave, Study Shows it Was ‘Almost Impossible’ Without Global Warming
- BP’s Net-Zero Pledge: A Sign of a Growing Divide Between European and U.S. Oil Companies? Or Another Marketing Ploy?
- This snowplow driver just started his own service. But warmer winters threaten it
- Tom Holland's New Venture Revealed
- Tesla slashes prices across all its models in a bid to boost sales
Ranking
- Trump wants to turn the clock on daylight saving time
- Maps show flooding in Vermont, across the Northeast — and where floods are forecast to continue
- COP26 Presented Forests as a Climate Solution, But May Not Be Able to Keep Them Standing
- A Delta in Distress
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- In 2018, the California AG Created an Environmental Justice Bureau. It’s Become a Trendsetter
- Groups Urge the EPA to Do Its Duty: Regulate Factory Farm Emissions
- Coronavirus: When Meeting a National Emissions-Reduction Goal May Not Be a Good Thing
Recommendation
Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
NYC nurses are on strike, but the problems they face are seen nationwide
Cold-case murder suspect captured after slipping out of handcuffs and shackles at gas station in Montana
At COP26, Youth Activists From Around the World Call Out Decades of Delay
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Activists Eye a Superfund Reboot Under Biden With a Focus on Environmental Justice and Climate Change
Ice Dam Bursts Threaten to Increase Sunny Day Floods as Hotter Temperatures Melt Glaciers
Former Northwestern football player details alleged hazing after head coach fired: Ruined many lives