Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -WealthGrow Network
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 21:24:18
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! (57)
Related
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- GOP White House hopefuls reject welcoming Palestinian refugees, a group seldom resettled by the U.S.
- Hospital systems Ascension and Henry Ford Health plan joint venture
- Pakistan court grants protection from arrest to ex-leader Nawaz Sharif, allowing his return home
- What to watch: O Jolie night
- Biden’s visit to Israel yields no quick fixes: ANALYSIS
- EU debates how to handle rising security challenges as Israel-Hamas war provokes new concerns
- NFL Week 7 odds: Moneylines, point spreads, over/under
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- She helped Florida kids with trauma. Now she's trapped in 'unimaginable' Gaza war zone.
Ranking
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- New Jersey man says $175,000 in lottery winnings 'came at perfect time' for family
- Italian lawmakers approve 10 million euros for long-delayed Holocaust Museum in Rome
- Nokia plans to cut up to 14,000 jobs after sales and profits plunge in a weak market
- The Grammy nominee you need to hear: Esperanza Spalding
- Britney Spears memoir reaches bestseller status a week before it hits shelves
- Mexico says leaders of Cuba, Venezuela, Haiti, Honduras to attend weekend migration summit
- Neymar’s next chapter is off to a difficult start as Ronaldo and Messi continue to lead the way
Recommendation
Federal appeals court upholds $14.25 million fine against Exxon for pollution in Texas
Early voting begins for elections in hundreds of North Carolina municipalities
Mega Millions numbers from Tuesday's drawing: Jackpot reaches $69 million
Florida Democrat Mucarsel-Powell gets clearer path to challenge US Sen. Rick Scott in 2024
The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
Xi, Putin detail 'deepening' relations between Beijing and Moscow
Jets trading Mecole Hardman back to the Chiefs in a deal that includes draft picks, AP source says
NFL finalizes contract extension for commissioner Roger Goodell through March 2027