Current:Home > InvestToyota 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 20:38:56
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! (65365)
Related
- All That You Wanted to Know About She’s All That
- Michelle Pfeiffer joins 'Yellowstone' universe in spinoff 'The Madison' after Kevin Costner drama
- Kate Spade Outlet’s up to 75% off, Which Means Chic $79 Crossbodies, $35 Wristlets & More
- Explorer’s family could have difficulty winning their lawsuit against Titan sub owner, experts say
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- St. Vincent channels something primal playing live music: ‘It’s kind of an exorcism for me’
- Hearing in Karen Read case expected to focus on jury deliberations
- 16-year-old Quincy Wilson to make Paris Olympics debut on US 4x400 relay
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Indian wrestler Vinesh Phogat abruptly retires after disqualification at Olympics
Ranking
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Oregon city at heart of Supreme Court homelessness ruling votes to ban camping except in some areas
- Taylor Swift's London shows not affected by Vienna cancellations, British police say
- Columbia University deans resign after exchanging disparaging texts during meeting on antisemitism
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Get an Extra 50% Off J.Crew Sale Styles, 50% Off Banana Republic, 40% Off Brooklinen & More Deals
- Fighting Father Time: LeBron James, Diana Taurasi still chasing Olympic gold
- US men’s basketball team rallies to beat Serbia in Paris Olympics, will face France for gold medal
Recommendation
Most popular books of the week: See what topped USA TODAY's bestselling books list
Consumers—and the Environment—Are Going to Pay for Problems With the Nation’s Largest Grid Region
Indian wrestler Vinesh Phogat abruptly retires after disqualification at Olympics
Who Is Olympian Raven Saunders: All About the Masked Shot Put Star
Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
Pregnant Cardi B Details Freak Accident That Nearly Left Her Paralyzed
Julianne Moore’s Son Caleb Freundlich Engaged to Kibriyaá Morgan
Investigator says ‘fraudulent’ gift to Florida’s only public historically Black university is void