Current:Home > StocksToyota 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:2025-04-16 16:41:45
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! (693)
Related
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Doja Cat Claps Back Over Plastic Surgery Confessions
- See Laverne Cox Make Her Diabolical Return to The Blacklist
- Footprints revive hope of finding 4 children missing after plane crash in Colombia jungle
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Transcript: Brad Smith, Microsoft president and vice chair, on Face the Nation, May 28, 2023
- Ukraine says Russia blew up major dam from inside, endangering thousands of people and a nuclear plant
- Kit Connor’s Fitness Transformation Will Stop Your Heart
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- Killer whales are ramming into boats and damaging them. The reason remains a mystery.
Ranking
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Afghanistan school girls poisoned in 2 separate attacks, officials say, as Taliban vows to find perpetrators
- You Knead to See the Sweet Way Blake Lively Supported Ryan Reynolds on Deadpool
- Jennifer Lopez's Red Carpet Date With Ben Affleck Will Have You Floating on Air
- US appeals court rejects Nasdaq’s diversity rules for company boards
- Charli D’Amelio and Landon Barker Share Sweet Glimpse Inside Their Relationship
- Iranian model who wore noose dress at Cannes says she wanted to highlight wrongful executions in her country
- Novak Djokovic wades into Kosovo-Serbia controversy at French Open as dozens injured in clashes
Recommendation
Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
You Knead to See the Sweet Way Blake Lively Supported Ryan Reynolds on Deadpool
Natalie Portman Shares How She Talks to Her Kids About Injustice
China declines invitation to meet with U.S. Defense Secretary Lloyd Austin
DoorDash steps up driver ID checks after traffic safety complaints
Footprints revive hope of finding 4 children missing after plane crash in Colombia jungle
Yara Shahidi Announces Grown-ish Is Ending With Sixth and Final Season
Shop the Modern Picnic Luncher Bag, Your New Commute BFF
Like
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Chinese barge suspected of looting World War II shipwrecks: Desecration of war graves
- Joran van der Sloot, suspect in Natalee Holloway disappearance, to challenge extradition from Peru to U.S., lawyer says