Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -MoneyStream
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
TradeEdge Exchange View
Date:2025-04-09 12:00:32
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! (12)
Related
- Where will Elmo go? HBO moves away from 'Sesame Street'
- The ‘Oppenheimer’ creative team take you behind the scenes of the film’s key moments
- Wilcox Ice Cream recalls all flavors due to possible listeria contamination
- How Melissa Rivers' Fiancé Steve Mitchel Changed Her Mind About Marriage
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Pfizer's stock price is at a three-year low. Is it time to buy?
- Cadillac's new 2025 Escalade IQ: A first look at the new electric full-size SUV
- NFL disability program leaves retired Saints tight end hurting and angry
- Tom Holland's New Venture Revealed
- Coldplay concert in Malaysia can be stopped by organizers if the band misbehaves, government says
Ranking
- Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
- 'Please God, let them live': Colts' Ryan Kelly, wife and twin boys who fought to survive
- 1000-Lb. Sisters' Tammy Slaton Honors Late Husband Caleb Willingham 4 Months After His Death
- How to check if your eye drops are safe amid flurry of product recalls
- Buckingham Palace staff under investigation for 'bar brawl'
- Police say 2 dead and 5 wounded in Philadelphia shooting that may be drug-related
- College Football Playoff rankings winners and losers: Big boost for Washington, Liberty
- A hand grenade explosion triggered by a quarrel at a market injured 9 people in southern Kosovo
Recommendation
Former Danish minister for Greenland discusses Trump's push to acquire island
Melissa Barrera dropped from 'Scream 7' over social media posts about Israel-Hamas war
King Charles honors Blackpink for environmental efforts: See photos
Messi’s Argentina beats Brazil in a World Cup qualifying game delayed by crowd violence
2025 'Doomsday Clock': This is how close we are to self
Mexican activist who counted murders in his violence-plagued city is himself killed
Elon Musk says X Corp. will donate ad and subscription revenue tied to Gaza war
Bob Vander Plaats, influential Iowa evangelical leader, endorses DeSantis