Current:Home > ScamsToyota 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
Ethermac View
Date:2025-04-09 22:39:44
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! (82824)
Related
- Travis Hunter, the 2
- Shootings reported at Joint Base San Antonio-Lackland between guards and passing vehicle
- A banner year for data breaches: Cybersecurity expert shows how to protect your privacy
- Greenidge Sues New York State Environmental Regulators, Seeking to Continue Operating Its Dresden Power Plant
- Alex Murdaugh’s murder appeal cites biased clerk and prejudicial evidence
- Dirt track racer Scott Bloomquist, known for winning and swagger, dies in plane crash
- Mississippi poultry plant settles with OSHA after teen’s 2023 death
- A Florida couple won $3,300 at the casino. Two men then followed them home and shot them.
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- 24 recent NFL first-round picks running out of chances heading into 2024 season
Ranking
- The Best Stocking Stuffers Under $25
- Dakota Johnson Confirms Chris Martin Relationship Status Amid Breakup Rumors
- Tingling in your fingers isn't uncommon – but here's when you should see a doctor
- Songwriter-producer The-Dream seeks dismissal of sexual assault lawsuit
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Can AI truly replicate the screams of a man on fire? Video game performers want their work protected
- Hurricane Ernesto makes landfall on Bermuda as a category 1 storm
- US official says Mideast mediators are preparing for implementation of cease-fire deal in advance
Recommendation
What do we know about the mysterious drones reported flying over New Jersey?
Lawsuit: Kansas school employee locked teen with Down syndrome in closet, storage cage
Fire breaks out at London’s Somerset House, home to priceless works by Van Gogh, Cezanne
DNA search prompts arrest of Idaho murder suspect in 51-year-old cold case, California police say
Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
Liverpool’s new era under Slot begins with a win at Ipswich and a scoring record for Salah
Jana Duggar, oldest Duggar daughter, marries Stephen Wissmann: 'Dream come true'
Maurice Williams, writer and lead singer of ‘Stay,’ dead at 86