Current:Home > reviewsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Aspire Financial Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-19 13:25:06
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! (14)
Related
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Why do some people get UTIs over and over? A new report holds clues
- FDA pulls the only approved drug for preventing premature birth off the market
- Prince Harry and Meghan Markle's Spotify deal unravels after just one series
- Highlights from Trump’s interview with Time magazine
- Coastal Communities Sue 37 Oil, Gas and Coal Companies Over Climate Change
- U.S. appeals court preserves partial access to abortion pill, but with tighter rules
- Transcript: Sen. Richard Blumenthal on Face the Nation, June 18, 2023
- What to watch: O Jolie night
- Flash Deal: Save 69% On the Total Gym All-in-One Fitness System
Ranking
- Tom Holland's New Venture Revealed
- Keystone XL: Low Oil Prices, Tar Sands Pullout Could Kill Pipeline Plan
- Transcript: Former New Jersey Gov. Chris Christie on Face the Nation, June 18, 2023
- This Week in Clean Economy: Northeast States Bucking Carbon Emissions Trend
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Kansas doctor dies while saving his daughter from drowning on rafting trip in Colorado
- Federal appeals court preserves access to abortion drug but with tighter rules
- Pope Francis will be discharged from the hospital on Saturday
Recommendation
Nevada attorney general revives 2020 fake electors case
Coastal Communities Sue 37 Oil, Gas and Coal Companies Over Climate Change
Siberian Wildfires Prompt Russia to Declare a State of Emergency
Review: 'Yellowstone' creator's 'Lioness' misses the point of a good spy thriller
DeepSeek: Did a little known Chinese startup cause a 'Sputnik moment' for AI?
Nick Cannon Reveals Which of His Children He Spends the Most Time With
This Week in Clean Economy: ARPA-E’s Clean Energy Bets a Hard Sell with Congress, Investors
Check Out the Most Surprising Celeb Transformations of the Week