Current:Home > MarketsToyota 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:2025-04-16 16:19:40
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! (9)
Related
- At site of suspected mass killings, Syrians recall horrors, hope for answers
- How 'Millionaire' host Jimmy Kimmel helped Team Barinholtz win stunning top prize
- Naomi Osaka receives US Open wild card as she struggles to regain form after giving birth
- Hurricane Ernesto to strengthen; Bermuda braces for 'the power of nature'
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- White House says deals struck to cut prices of popular Medicare drugs that cost $50 billion yearly
- No testimony from Florida white woman accused of manslaughter in fatal shooting of Black neighbor
- Planning a Girls’ Night Out in NYC? Here’s What You Need to Make It Happen
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Ranking MLB jersey advertisements: Whose patch is least offensive?
Ranking
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- 2025 COLA estimate dips with inflation, but high daily expenses still burn seniors
- Justice Department defends Boeing plea deal against criticism by 737 Max crash victims’ families
- Detroit judge orders sleepy teenage girl on field trip to be handcuffed, threatens jail
- Rylee Arnold Shares a Long
- Red Cross blood inventory plummets 25% in July, impacted by heat and record low donations
- Family of man killed by Connecticut police officer files lawsuit, seeks federal probe of department
- Efforts to return remains, artifacts to US tribes get $3 million in funding
Recommendation
Could your smelly farts help science?
Donald Trump asks judge to delay sentencing in hush money case until after November election
Gymnast Gabby Douglas Shares $5 Self-Care Hacks and Talks Possible 2028 Olympic Comeback
What Conservation Coalitions Have Learned from an Aspen Tree
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
Get Designer Michael Kors Bags on Sale Including a $398 Purse for $59 & More Deals Starting at $49
American Supercar: A first look at the 1,064-HP 2025 Chevrolet Corvette ZR1
Infamous LA officer’s gun found in $1 million watch robbery case