Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -Mastery Money Tools
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-11 15:19:51
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! (17)
Related
- Meta releases AI model to enhance Metaverse experience
- Ohio police share video showing a car hit a child crossing street in Medina: Watch
- A hot air balloon crashed into a power line and caused a fire, but everyone is OK
- After beating cancer, Myles Rice hopes to lead Washington State on an NCAA Tournament run
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Famed battleship USS New Jersey floating down Delaware River to Philadelphia for maintenance
- US Jews upset with Trump’s latest rhetoric say he doesn’t get to tell them how to be Jewish
- Georgia Republicans reject Democrats’ final push for Medicaid expansion
- Questlove charts 50 years of SNL musical hits (and misses)
- Mom of Utah grief author accused of poisoning her husband also possibly involved in his death, affidavit says
Ranking
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Teen to pay fine and do community service to resolve civil rights vandalism complaint
- See the first photos of 'Beetlejuice Beetlejuice' cast, including Michael Keaton
- Dodgers fire Shohei Ohtani's interpreter after allegations of theft to pay off gambling debts
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- What channel is truTV? How to watch First Four games of NCAA Tournament
- NC State riding big man DJ Burns on its unlikely NCAA Tournament run this March Madness
- 3 arrested after welfare call leads to removal of 86 dogs, girl and older woman from California home
Recommendation
What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
How much money is bet on March Madness? The 2024 NCAA tournament is expected to generate billions.
As Ukraine aid languishes, 15 House members work on end run to approve funds
I promised my kid I'd take her to see Bruce Springsteen. Why it took 12 years to get there
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
78,000 more public workers are getting student loans canceled through Biden administration changes
Trump’s lawyers keep fighting $454M fraud appeal bond requirement
Grambling State gets first ever March Madness win: Meet Purdue's first round opponent