Current:Home > InvestToyota to invest $922 million to build a new paint facility at its Kentucky complex -TrueNorth Capital Hub
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Indexbit View
Date:2025-04-06 09:38:14
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! (697)
Related
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- This Super Affordable Amazon Sheet Set Has 355,600+ Five-Star Reviews
- Vanessa Hudgens Flashes Engagement Ring at Oscars 2023, Keeping Fiancé Cole Tucker Close to Heart
- Mexico's immigration agency chief to be charged in fire that killed 40 migrants in detention center
- 2025 'Doomsday Clock': This is how close we are to self
- Oscars 2023: Lady Gaga Deserves an Applause for Helping Guest Who Fell on Red Carpet
- In this case, politics is a (video) game
- You'll Be a Sucker for Joe Jonas and Sophie Turner's Matching Goth Looks at Oscars After-Party
- Questlove charts 50 years of SNL musical hits (and misses)
- Senators Want An Investigation Of How Amazon Treats Its Pregnant Workers
Ranking
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- NASA's Got A New, Big Telescope. It Could Find Hints Of Life On Far-Flung Planets
- Hunting sunken treasure from a legendary shipwreck
- We're Soaring, Flying Over Vanessa Hudgens and Ex Austin Butler's Oscars After-Party Run-In
- Brianna LaPaglia Reveals The Meaning Behind Her "Chickenfry" Nickname
- 3 Sherpa climbers missing on Mount Everest after falling into crevasse
- Transcript: Christine Lagarde on Face the Nation, April 16, 2023
- Fan Bingbing Makes Rare Appearance at 2023 Oscars 5 Years After Mysterious Disappearance
Recommendation
A South Texas lawmaker’s 15
Elizabeth Holmes testifies about alleged sexual and emotional abuse at fraud trial
Unpopular plan to raise France's retirement age from 62 to 64 approved by Constitutional Council
Emaciated followers found at Kenyan pastor's property; 4 dead
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
See Sarah Paulson and Holland Taylor Turn Oscars 2023 Party Into Date Night
This Super Affordable Amazon Sheet Set Has 355,600+ Five-Star Reviews
Oscars 2023: Colin Farrell and 13-Year-Old Son Henry Twin on Red Carpet