Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -InvestPioneer
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 19:48:13
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! (2424)
Related
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- New data highlights 'achievement gap' for students in the US
- Meet first time Grammy nominee Charley Crockett
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
- Highlights from Trump’s interview with Time magazine
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- Could your smelly farts help science?
- Don't let hackers fool you with a 'scam
Ranking
- Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- 'We're reborn!' Gazans express joy at returning home to north
- Louvre will undergo expansion and restoration project, Macron says
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
Recommendation
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
Average rate on 30
'We're reborn!' Gazans express joy at returning home to north
US wholesale inflation accelerated in November in sign that some price pressures remain elevated
Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz