Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Summit Capital Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 13:09:58
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! (3)
Related
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Out-of-state law firms boost campaign cash of 2 Democratic statewide candidates in Oregon
- Backpage.com founder Michael Lacey sentenced to 5 years in prison, fined $3M for money laundering
- K-pop singer Taeil leaves boyband NCT over accusation of an unspecified sexual crime, his label says
- 'We're reborn!' Gazans express joy at returning home to north
- NTSB report faults trucking company logs in fatal 2022 bus crash
- Defense seeks to undermine accuser’s credibility in New Hampshire youth center sex abuse case
- Lil Rod breaks silence on lawsuit against Sean 'Diddy' Combs: 'I'm being punished'
- Rolling Loud 2024: Lineup, how to stream the world's largest hip hop music festival
- Missouri death row inmate gets another chance at a hearing that could spare his life
Ranking
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Found Art
- Breaks in main water pipeline for Grand Canyon prompt shutdown of overnight hotel stays
- What is a returnship and how can it help me reenter the workforce? Ask HR
- A South Texas lawmaker’s 15
- Dairy Queen's 2024 Fall Blizzard Menu is now available: See the full fall menu
- Errant ostrich brings traffic to a halt in South Dakota after escaping from a trailer
- Armie Hammer sells his truck to save money after cannibalism scandal
Recommendation
Woman dies after Singapore family of 3 gets into accident in Taiwan
Memphis, Tennessee murder suspect crashes through ceiling as US Marshals search for him
Mega Millions winning numbers for August 27 drawing; Jackpot climbs to $582 million
Sweaty corn is making it even more humid
At site of suspected mass killings, Syrians recall horrors, hope for answers
Trump campaign was warned not to take photos at Arlington before altercation, defense official says
Kelsea Ballerini Shares Her Dog Dibs Has Inoperable Heart Cancer
In Final Rock Springs Resource Management Plan, BLM Sticks With Conservation Priorities, Renewable Energy Development