Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -InfiniteWealth
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 05:22:36
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! (1536)
Related
- What to know about Tuesday’s US House primaries to replace Matt Gaetz and Mike Waltz
- Matthew Perry’s Death Certificate Released
- Britney Spears' Mom Lynne Spears Sends Singer Public Message Over Memoir Allegations
- Democratic West Virginia Sen. Joe Manchin is retiring, giving GOP a key pickup opportunity in 2024
- Intel's stock did something it hasn't done since 2022
- NATO member Romania pushes to buy 54 Abrams battle tanks from US
- Shohei Ohtani is donating 60,000 baseball gloves to Japanese schoolchildren
- 52 years after he sent it home from Vietnam, this veteran was reunited with his box of medals and mementos
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- AJ McLean Reveals Where He and Wife Rochelle Stand 8 Months After Announcing Separation
Ranking
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Election workers report receiving suspicious packages, some containing fentanyl, while processing ballots
- Former New York comptroller Alan Hevesi, tarnished by public scandals, dies at 83
- British economy flatlines in third quarter of the year, update shows ahead of budget statement
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- RHOBH's Crystal Kung Minkoff Says These Real Housewives Were Rude at BravoCon
- Historic: NWSL signs largest broadcast deal in women's sports, adds additional TV partners
- Feeling crowded yet? The Census Bureau estimates the world’s population has passed 8 billion
Recommendation
Global Warming Set the Stage for Los Angeles Fires
Matthew Perry’s Death Certificate Released
Police investigate report of doll found decapitated at Ohio home flying Palestinian flag
United Nations suspends pullout of African Union troops from Somalia as battles with militants rage
Buckingham Palace staff under investigation for 'bar brawl'
Independent inquiry launched into shipwreck off Greece that left hundreds of migrants feared dead
Are the Oakland Athletics moving to Las Vegas? What to know before MLB owners vote
2 endangered panthers found dead on consecutive days in Florida, officials say