Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Wealth Navigators Hub
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
SignalHub Quantitative Think Tank Center View
Date:2025-04-07 03:31:17
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! (9793)
Related
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Firefighters booed NY attorney general who prosecuted Trump. Officials are investigating
- The 9 Best Comforter Sets of 2024 That’re Soft, Cozy, and Hotel-Like, According to Reviewers
- Christian Wilkins, Raiders agree to terms on four-year, $110 million contract
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- After deadly Highway 95 crash in Wisconsin, bystander rescues toddler from wreckage
- You Might’ve Missed Cillian Murphy’s Rare Appearance With Sons on 2024 Oscars Red Carpet
- Some athletes swear by smelling salts. Here's the truth about them.
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- When is 2024 March Madness men's basketball tournament? Dates, times, odds and more
Ranking
- Sonya Massey's father decries possible release of former deputy charged with her death
- Georgia bill would impose harsher penalties on more ‘swatting’ calls
- Man bitten by a crocodile after falling off his boat at a Florida Everglades marina
- A Kansas judge says barring driver’s license changes doesn’t violate trans people’s rights
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Sperm whale beached on sandbar off coast of Venice, Florida has died, officials say
- Most automated driving systems aren’t good making sure drivers pay attention, insurance group says
- Angela Chao, shipping industry exec, died on Texas ranch after her car went into a pond, report says
Recommendation
SFO's new sensory room helps neurodivergent travelers fight flying jitters
Why Robert Downey Jr. and Ke Huy Quan's 2024 Oscars Moment Is Leaving Fans Divided
Utah State coach Kayla Ard announces her firing in postgame news conference
A look at standings, schedule, and brackets ahead of 2024 ACC men's basketball tournament
Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
Libraries struggle to afford the demand for e-books, seek new state laws in fight with publishers
Pressure on Boeing grows as Buttigieg says the company needs to cooperate with investigations
'Despicable': 2 dogs collapse and die in Alaska's Iditarod race; PETA calls for shutdown