Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -Core Financial Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
TrendPulse View
Date:2025-04-11 01:04:36
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! (7)
Related
- All That You Wanted to Know About She’s All That
- Grammys 2024: See the Complete Winners List
- Grammys 2024: Paris Jackson Covers Up 80+ Tattoos For Unforgettable Red Carpet Moment
- Lionel Messi effect: Inter Miami sells out Hong Kong Stadium for Saturday practice
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- What if Super Bowl Monday became a national holiday? Here's what would have to happen
- Funeral held for 7 of the 8 victims in Joliet-area shootings
- Arab American leaders urge Michigan to vote uncommitted and send message to Biden about Israel policy
- Former Danish minister for Greenland discusses Trump's push to acquire island
- Oklahoma’s oldest Native American school, Bacone College, is threatened by debts and disrepair
Ranking
- Louvre will undergo expansion and restoration project, Macron says
- Grammys 2024: Nothing in This World Compares to Paris Hilton’s Sweet Update on Motherhood
- Alyssa Milano Responds to Claim She Had Shannen Doherty Fired From Charmed
- Rapper Killer Mike detained by police at the Grammy Awards after collecting 3 trophies
- House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
- Biden sets sights on Las Vegas days before Nevada’s primary. He’s also got November on his mind.
- Taylor Swift Drops Reputation Easter Eggs With Must-See 2024 Grammys Look
- Do your kids want a dog? Science may be on their side
Recommendation
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
5.1 magnitude earthquake near Oklahoma City felt in 5 states, USGS says
After record GOP walkout, Oregon lawmakers set to reconvene for session focused on housing and drugs
Judge in Trump's 2020 election case delays March 4 trial date
Israel lets Palestinians go back to northern Gaza for first time in over a year as cease
Taking the SAT in March? No need to sharpen a pencil
You'll Be Happier After Seeing Olivia Rodrigo's 2024 Grammys Look
John Legend and Chrissy Teigen's Grammys 2024 Appearance Is No Ordinary Date Night