Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -Blueprint Wealth Network
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-22 11:06:13
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! (111)
Related
- Trump wants to turn the clock on daylight saving time
- Miley Cyrus Loves Dolce Glow Self-Tanners So Much, She Invested in Them: Shop Her Faves Now
- It's really dangerous: Surfers face chaotic waves and storm surge in hurricane season
- On Florida's Gulf Coast, developers eye properties ravaged by Hurricane Ian
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Q&A: A Sustainable Transportation Advocate Explains Why Bikes and Buses, Not Cars, Should Be the Norm
- Warming Trends: A Facebook Plan to Debunk Climate Myths, ‘Meltdown’ and a Sad Yeti
- Dozens hurt in Manhattan collision involving double-decker tour bus
- Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
- If You Can't Stand Denim Shorts, These Alternative Options Will Save Your Summer
Ranking
- 'Malcolm in the Middle’ to return with new episodes featuring Frankie Muniz
- Where Tom Schwartz Stands With Tom Sandoval After Incredibly Messed Up Affair With Raquel Leviss
- Dad who survived 9/11 dies after jumping into Lake Michigan to help child who fell off raft
- Climate Change is Weakening the Ocean Currents That Shape Weather on Both Sides of the Atlantic
- What were Tom Selleck's juicy final 'Blue Bloods' words in Reagan family
- After a Ticketmaster snafu, Mexico's president asks Bad Bunny to hold a free concert
- How Britain Ended Its Coal Addiction
- Miley Cyrus Loves Dolce Glow Self-Tanners So Much, She Invested in Them: Shop Her Faves Now
Recommendation
Tree trimmer dead after getting caught in wood chipper at Florida town hall
Southern Charm Star Taylor Ann Green's Brother Worth Dead at 36
Make Waves With These 17 The Little Mermaid Gifts
Where Tom Schwartz Stands With Tom Sandoval After Incredibly Messed Up Affair With Raquel Leviss
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
After the Fukushima disaster, Japan swore to phase out nuclear power. But not anymore
Shop the Must-Have Pride Jewelry You'll Want to Wear All Year Long
When startups become workhorses, not unicorns