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:2025-04-12 20:27:54
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! (3378)
Related
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Jury awards $300 million to women who alleged sex abuse by doctor at a Virginia children’s hospital
- Indianapolis man sentenced to 189 years for killing 3 young men found along a path
- Salvador Perez's inspiring Royals career gets MLB postseason return: 'Kids want to be like him'
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Suspicious package sent to elections officials in Minnesota prompts evacuation and FBI investigation
- The Chilling True Story Behind Into the Fire: Murder, Buried Secrets and a Mother's Hunch
- Urban communities that lack shade sizzle when it’s hot. Trees are a climate change solution
- Global Warming Set the Stage for Los Angeles Fires
- Un parque infantil ayuda a controlar las inundaciones en una histórica ciudad de Nueva Jersey
Ranking
- Louvre will undergo expansion and restoration project, Macron says
- Dakota Johnson's Underwear Story Involving Barack Obama Will Turn You Fifty Shades of Red
- Lululemon's Latest We Made Too Much Drops -- $29 Belt Bags, $49 Align Leggings & More Under $99 Finds
- Vance exuded calm during a tense debate stage moment. Can he keep it up when he faces Walz?
- Don't let hackers fool you with a 'scam
- Friend says an ex-officer on trial in fatal beating of Tyre Nichols did his job ‘by the book’
- App State cancels football game against Liberty in North Carolina after Helene causes flooding
- Plaintiffs won’t revive federal lawsuit over Tennessee’s redistricting maps
Recommendation
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
The Chilling True Story Behind Into the Fire: Murder, Buried Secrets and a Mother's Hunch
Sharpton and Central Park Five members get out the vote in battleground Pennsylvania
Celebrity dog Swaggy Wolfdog offers reward for safe return of missing $100,000 chain
Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
In the Heart of Wall Street, Rights of Nature Activists Put the Fossil Fuel Era on Trial
One person died, others brought to hospitals after bus crashed on interstate in Phoenix
Michigan’s top court won’t intervene in dispute over public records and teachers