Current:Home > StocksOliver James Montgomery-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Blueprint Wealth Network
Oliver James Montgomery-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Ethermac Exchange View
Date:2025-04-07 00:23:14
GEORGETOWN,Oliver James Montgomery 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! (6426)
Related
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- Elon Musk takes the witness stand to defend his Tesla buyout tweets
- Mary Nichols Was the Early Favorite to Run Biden’s EPA, Before She Became a ‘Casualty’
- Exxon climate predictions were accurate decades ago. Still it sowed doubt
- 'Most Whopper
- The pregnant workers fairness act, explained
- As prices soar, border officials are seeing a spike in egg smuggling from Mexico
- U.S. hits its debt limit and now risks defaulting on its bills
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Are you struggling to pay off credit card debt? Tell us what hurdles you are facing
Ranking
- Retirement planning: 3 crucial moves everyone should make before 2025
- Amazon loses bid to overturn historic union win at Staten Island warehouse
- A Delta in Distress
- Biden's grandfatherly appeal may be asset overseas at NATO summit
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Cold-case murder suspect captured after slipping out of handcuffs and shackles at gas station in Montana
- Americans are piling up credit card debt — and it could prove very costly
- Cold-case murder suspect captured after slipping out of handcuffs and shackles at gas station in Montana
Recommendation
Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
The pregnant workers fairness act, explained
4 ways around a debt ceiling crisis — and why they might not work
Please Stand Up and See Eminem's Complete Family Tree
Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
Breathing Polluted Air Shortens People’s Lives by an Average of 3 Years, a New Study Finds
Kim Kardashian Reacts to Pregnant Kourtney Kardashian and Travis Barker’s Baby News
All the Stars Who Have Weighed In on the Ozempic Craze