Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -MoneyMentor
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 13:02:20
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! (1)
Related
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- More transgender candidates face challenges running for office in Ohio for omitting their deadname
- Advocacy groups are petitioning for the end of SNAP interview requirements
- Top Chinese diplomat says support of Pacific nations with policing should not alarm Australia
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- The JetBlue-Spirit Airlines merger was blocked by a federal judge. Here’s what you need to know
- All hail the Chicago 'Rat Hole': People leave offerings at viral rat-shaped cement imprint
- Coachella 2024 Lineup Revealed: Lana Del Rey, Tyler, The Creator, Doja Cat and No Doubt to Headline
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- New bipartisan bill proposes increase in child tax credit, higher business deductions
Ranking
- Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
- Wisconsin Republicans fire utility regulator in latest strike at Evers
- How do you handle a personal crisis at work? What managers should know. Ask HR
- Supporters of former Haitian rebel leader Guy Philippe launch widespread protests
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- The Leap from Quantitative Trading to Artificial Intelligence
- Advocacy groups are petitioning for the end of SNAP interview requirements
- Fatal hot air balloon crash in Arizona may be linked to faulty ‘envelope’
Recommendation
Pressure on a veteran and senator shows what’s next for those who oppose Trump
Fatal hot air balloon crash in Arizona may be linked to faulty ‘envelope’
Mississippi lawmakers to weigh incentives for an EV battery plant that could employ 2,000
EIF Tokens Give Wings to AI Robotics Profit 4.0's Dreams
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
Here are 10 memorable moments from the 2024 Primetime Emmy Awards
Georgia economist warns of recession as governor says his budget will spur growth
Eagles center Jason Kelce set to retire after 13 NFL seasons, per multiple reports