Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -ValueMetric
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Chainkeen Exchange View
Date:2025-04-09 03:22:47
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! (51392)
Related
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- ‘Sing Sing’ actor exonerated of murder after nearly 24 years in prison
- 'THANK YOU SO MUCH': How social media is helping locate the missing after Helene
- Reaction to the death of Basketball Hall of Famer Dikembe Mutombo
- Sonya Massey's family keeps eyes on 'full justice' one month after shooting
- San Diego Padres back in MLB playoffs after 'selfishness' doomed last season's flop
- King Charles III Shares Insight Into Queen Elizabeth’s Final Days 2 Years After Her Death
- Man is sentenced to 35 years for shooting 2 Jewish men as they left Los Angeles synagogues
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- How to get your share of Oracle's $115 million class-action settlement; deadline is coming
Ranking
- $73.5M beach replenishment project starts in January at Jersey Shore
- New reality show 'The Summit' premieres: What climber was the first to be eliminated?
- Julianne Hough Claps Back at Critics Who Told Her to Eat a Cheeseburger After Sharing Bikini Video
- Aurora and Sophia Culpo Detail Bond With Brother-in-Law Christian McCaffrey
- Jury finds man guilty of sending 17-year-old son to rob and kill rapper PnB Rock
- Appeal delays $600 million class action settlement payments in fiery Ohio derailment
- Jay Leno Shares Update 2 Years After Burn Accident and Motorcycle Crash
- California expands access to in vitro fertilization with new law requiring insurers to cover it
Recommendation
Giants, Lions fined $200K for fights in training camp joint practices
Conyers fire: Shelter-in-place still in effect after chemical fire at pool cleaning plant
Steward Health Care files a lawsuit against a US Senate panel over contempt resolution
San Diego Padres back in MLB playoffs after 'selfishness' doomed last season's flop
Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
Repair and Prevent Hair Damage With Our Picks From Oribe, Olaplex, & More
Did 'SNL' mock Chappell Roan for harassment concerns? Controversial sketch sparks debate
Julianne Hough Claps Back at Critics Who Told Her to Eat a Cheeseburger After Sharing Bikini Video