Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -Streamline Finance
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Rekubit View
Date:2025-04-07 08:55:39
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! (8)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- North West Steps Out With Mom Kim Kardashian on the Way to Met Gala Red Carpet
- Sophia Culpo Addresses Unintentional Weight Loss After Braxton Berrios Breakup
- Today’s Climate: April 16, 2010
- Paige Bueckers vs. Hannah Hidalgo highlights women's basketball games to watch
- 24 Things Every Wine Lover Should Own
- Jerry Springer Laid to Rest Near Chicago 3 Days After His Death
- Ariana Madix Makes Glam Red Carpet Return at White House Correspondents' Dinner After Tom Sandoval Split
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Trump EPA Science Advisers Push Doubt About Air Pollution Health Risks
Ranking
- Sam Taylor
- Get $210 Worth of Philosophy Skincare and Perfume for Just $72
- Met Gala 2023 Red Carpet Fashion: See Every Look as the Stars Arrive
- All The Purr-fect Nods To Karl Lagerfeld's Cat Choupette at the Met Gala 2023
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- Save $76 on the Ninja Creami 11-In-1 Frozen Treat Maker and Enjoy Ice Cream, Sorbet, and Gelato Any Time
- Pregnant Rihanna Has Finally Graced the 2023 Met Gala With Her Very Fashionable Presence
- IBM, Professors Team Up to Train ‘Smart’ Students for a Green Jobs Future
Recommendation
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Bad Bunny Looks White Hot in Backless Suit at the Met Gala 2023
Save Up to 46% On Vince Camuto Sandals, Heels, Sneakers, Boots, and More
How to Watch the 2023 Met Gala
2 killed, 3 injured in shooting at makeshift club in Houston
Rachel Brosnahan Reveals Her Most Risqué Look at 2023 Met Gala
Nicola and Brooklyn Peltz Beckham Are Perfectly Posh at Met Gala 2023
Granger Smith Sends Support to Shaquil Barrett After Daughter's Drowning Death