Current:Home > MarketsToyota 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 15:36:02
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! (21985)
Related
- The Daily Money: Spending more on holiday travel?
- The family of a Palestinian activist jailed for incitement says young woman’s account was hacked
- National Zoo’s giant pandas fly home amid uncertainty about future panda exchanges
- Kristin Chenoweth Has a Wicked Response to Carly Waddell's Criticism of Lady Gaga
- Meta releases AI model to enhance Metaverse experience
- Florida wraps up special session to support Israel as DeSantis campaigns for president
- Minnesota town is believed to be the first to elect a Somali American as mayor
- Migration nightmare: She thought her family was lost at sea. Then the Mexican 'mafia' called.
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Michigan Democrats to lose full control of state government after representatives win mayoral races
Ranking
- Trump invites nearly all federal workers to quit now, get paid through September
- Amazon lowers cost of health care plan for Prime members to $9 a month
- Pregnant Ashley Benson and Brandon Davis Are Married
- Soccer Star Neymar’s Girlfriend Bruna Biancardi Speaks Out After Invasion at Family Home
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Maren Morris Clarifies Her Plans in Country Music After Announcing She’ll Step Back
- Nearly 1 million chickens infected with bird flu in Minnesota to be killed, per USDA
- An Iconic Real Housewives Star Is Revealed on The Masked Singer
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Having lice ain't nice. But they tell our story, concise and precise
Democratic lawmakers want President Biden to protect Palestinians in US from being forced home
7 Nashville officers on ‘administrative assignment’ after Covenant school shooter’s writings leaked
Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
Former Louisiana House speaker chosen as Gov.-elect Jeff Landry’s chief budget adviser
Pacific leaders to meet on beautiful island to discuss climate change and other regional concerns
JJ McCarthy won't get my Heisman Trophy vote during Michigan cheating scandal