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:2025-04-13 07:51:24
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! (6)
Related
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- NY state asks court not to let Trump forgo $454M bond during fraud case appeal
- It's official: Caitlin Clark is the most popular player in college basketball this year
- Minnesota penalizes county jail for depriving inmate of food and water for more than 2 days
- Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
- Some Georgia workers would find it harder to become union members under a new bill
- Reddit poised to make its stock market debut after IPO prices at $34 per share amid strong demand
- A Kentucky judge dismisses lawsuit but protects historic mural that has sparked protests
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Kyle Richards Weighs in on Family Drama Between Mauricio Umansky and Paris Hilton
Ranking
- Highlights from Trump’s interview with Time magazine
- Landmark Peruvian Court Ruling Says the Marañón River Has Legal Rights To Exist, Flow and Be Free From Pollution
- USWNT get Germany, Australia in group stage at Paris Olympics; US men get host France
- Execution in Georgia: Man to be put to death for 1993 murder of former girlfriend
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Dodgers rally to top Padres in MLB Korea season opener: Highlights, recap of Shohei Ohtani debut
- Head of fractured Ohio House loses some GOP allies, but may yet keep leadership role amid infighting
- Washington Gov. Inslee signs fentanyl bill sending money to disproportionately affected tribes
Recommendation
Dick Vitale announces he is cancer free: 'Santa Claus came early'
Texas wants to arrest immigrants in the country illegally. Why would that be such a major shift?
Caroline Wozniacki & More Tennis Pros Support Aryna Sabalenka After Konstantin Koltsov's Death
March Madness schedule today: Everything to know about NCAA Tournament games on Thursday
Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
Biden administration to invest $8.5 billion in Intel's computer chip plants in four states
FBI: ‘Little rascals’ trio, ages 11, 12 and 16, arrested for robbing a Houston bank
Landmark Peruvian Court Ruling Says the Marañón River Has Legal Rights To Exist, Flow and Be Free From Pollution