Current:Home > MyToyota to invest $922 million to build a new paint facility at its Kentucky complex -Triumph Financial Guides
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
TrendPulse Quantitative Think Tank Center View
Date:2025-04-07 17:08:22
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! (3)
Related
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- In Portsmouth, a Superfund Site Pollutes a Creek, Threatens a Neighborhood and Defies a Quick Fix
- Kathy Hilton Shares Cryptic Message Amid Sister Kyle Richards and Mauricio Umansky Divorce Rumors
- A New, Massive Plastics Plant in Southwest Pennsylvania Barely Registers Among Voters
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- US Firms Secure 19 Deals to Export Liquified Natural Gas, Driven in Part by the War in Ukraine
- Montana banned TikTok. Whatever comes next could affect the app's fate in the U.S.
- The latest workers calling for a better quality of life: airline pilots
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Inside Clean Energy: Wind and Solar Costs Have Risen. How Long Should We Expect This Trend to Last?
Ranking
- Current, future North Carolina governor’s challenge of power
- At the Greater & Greener Conference, Urban Parks Officials and Advocates Talk Equity and Climate Change
- Out in the Fields, Contemplating Humanity and a Parched Almond Farm
- Kate Spade 24-Hour Flash Deal: Get This $240 Crossbody Bag for Just $59
- Taylor Swift makes surprise visit to Kansas City children’s hospital
- Biden Administration Opens New Public Lands and Waters to Fossil Fuel Drilling, Disappointing Environmentalists
- As EPA’s Region 3 Administrator, Adam Ortiz Wants the Mid-Atlantic States to Become Climate-Conscious and Resilient
- Max streaming service says it will restore writer and director credits after outcry
Recommendation
Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
Red, White and Royal Blue Trailer: You’ll Bow Down to This Steamy Romance
Inside Clean Energy: As Efficiency Rises, Solar Power Needs Fewer Acres to Pack the Same Punch
Scientists Say It’s ‘Fatally Foolish’ To Not Study Catastrophic Climate Outcomes
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
Kendall Jenner and Ex Devin Booker Attend Same Star-Studded Fourth of July Party
European watchdog fines Meta $1.3 billion over privacy violations
Ron DeSantis debuts presidential bid in a glitch-ridden Twitter 'disaster'