Current:Home > FinanceToyota 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:2025-04-15 23:20:24
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! (9245)
Related
- A South Texas lawmaker’s 15
- Nick Cannon and Brittany Bell's Advanced Son Golden Is Starting 4th Grade at 7 Years Old
- Scam artists selling bogus magazine subscriptions ripped off $300 million from elderly
- Russia bans 92 more Americans from the country, including journalists
- Arkansas State Police probe death of woman found after officer
- Michigan power outages widespread after potent storms lash the state
- Backpage.com founder Michael Lacey sentenced to 5 years in prison, fined $3M for money laundering
- California Climate and Health Groups Urge Legislators to Pass Polluter Pays Bills
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- Kaitlyn Bristowe Says She Staged a Funeral Service and Fake Burial for Her Last Relationship
Ranking
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- Bristol Palin Details “Gut-Wrenching” Way Her 15-Year-Old Son Tripp Told Her He Wanted to Live With Dad
- 2 Indiana men charged in heat deaths of 9 dogs in an uncooled truck
- Family of Grand Canyon flash flood victim raises funds for search team: 'Profoundly grateful'
- New Zealand official reverses visa refusal for US conservative influencer Candace Owens
- 15 must-see fall movies, from 'Beetlejuice Beetlejuice' to 'Joker 2'
- 'Lord of the Rings' series 'The Rings of Power' is beautiful but empty in Season 2
- In the First Community Meeting Since a Fatal Home Explosion, Residents Grill Alabama Regulators, Politicians Over Coal Mining Destruction
Recommendation
Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
Armie Hammer Reveals He’s Selling His Truck Since He “Can’t Afford the Gas Anymore”
Woman shot at White Sox game sues team and stadium authority
Mae Whitman Gives Birth, Names Her First Baby After Parenthood Costar
Most popular books of the week: See what topped USA TODAY's bestselling books list
Supreme Court rebuffs Biden administration plea to restore multibillion-dollar student debt plan
Mae Whitman Gives Birth, Names Her First Baby After Parenthood Costar
Nvidia is Wall Street’s 2nd-most valuable company. How it keeps beating expectations, by the numbers