Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -FundPrime
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 16:22:13
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! (23)
Related
- South Korean president's party divided over defiant martial law speech
- US surgeon general declares gun violence a public health emergency
- Diane von Furstenberg on documentary, 'biggest gift' from mom, an Auschwitz survivor
- The Best Concealers, Foundations, Color Correctors & Makeup Products for Covering Tattoos
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Hi Hi!
- More Americans are ending up in Russian jails. Prospects for their release are unclear
- Kansas City Chiefs release DL Isaiah Buggs after pair of arrests
- Former Michigan police chief is sentenced to prison for stealing drugs on the job
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- More rain possible in deluged Midwest as flooding kills 2, causes water to surge around dam
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Zach Edey draft profile, scouting report: How will Purdue big man translate to NBA?
- Social media sensation Judge Frank Caprio on compassion, kindness and his cancer diagnosis
- Stock market today: Asian stocks follow Wall Street rise, but Nvidia tumbles again as AI mania cools
- What do we know about the mysterious drones reported flying over New Jersey?
- More Americans are ending up in Russian jails. Prospects for their release are unclear
- Travis Barker's Ex Shanna Moakler Responds to Claim She's a Deadbeat Mom
- The ACT's new ties to a private equity firm are raising eyebrows
Recommendation
Head of the Federal Aviation Administration to resign, allowing Trump to pick his successor
Biden’s 2 steps on immigration could reframe how US voters see a major political problem for him
MLB power rankings: Can Rangers rally a World Series defense with Max Scherzer back?
For Tesla’s futuristic new Cybertruck, a fourth recall
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
Sofía Vergara Shares How Being in Her 50s Has Shaped Her Confidence
Charli XCX reportedly condemns fans for dissing Taylor Swift in concert chant: 'It disturbs me'
Tennessee baseball completes climb from bottom of SEC to top of College World Series mountain