Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -Profound Wealth Insights
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 08:50:26
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! (76)
Related
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- Why members of two of EPA's influential science advisory committees were let go
- The White House is cracking down on overdraft fees
- Global Warming Set the Stage for Los Angeles Fires
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- What do we know about the mysterious drones reported flying over New Jersey?
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Highlights from Trump’s interview with Time magazine
- Trump invites nearly all federal workers to quit now, get paid through September
Recommendation
Trump wants to turn the clock on daylight saving time
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Bill Belichick's salary at North Carolina: School releases football coach's contract details
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
See you latte: Starbucks plans to cut 30% of its menu
'We're reborn!' Gazans express joy at returning home to north