Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Dynamic Money Growth
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-18 10:52:49
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! (54)
Related
- Buckingham Palace staff under investigation for 'bar brawl'
- Fewer U.S. grandparents are taking care of grandchildren, according to new data
- Hate crime charges dropped against 12 college students arrested in Maryland assault
- How to watch 'A Charlie Brown Christmas' for free: Special date, streaming info
- Trump invites nearly all federal workers to quit now, get paid through September
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Follow Your Dreams
- Trump will be honored as Time’s Person of the Year and ring the New York Stock Exchange bell
- Fewer U.S. grandparents are taking care of grandchildren, according to new data
- The White House is cracking down on overdraft fees
- US inflation likely edged up last month, though not enough to deter another Fed rate cut
Ranking
- Buckingham Palace staff under investigation for 'bar brawl'
- The Sundance Film Festival unveils its lineup including Jennifer Lopez, Questlove and more
- Supreme Court allows investors’ class action to proceed against microchip company Nvidia
- We can't get excited about 'Kraven the Hunter.' Don't blame superhero fatigue.
- Senate begins final push to expand Social Security benefits for millions of people
- Taxpayers could get $500 'inflation refund' checks under New York proposal: What to know
- Billboard Music Awards 2024: Complete winners list, including Taylor Swift's historic night
- Fewer U.S. grandparents are taking care of grandchildren, according to new data
Recommendation
Have Dry, Sensitive Skin? You Need To Add These Gentle Skincare Products to Your Routine
Luigi Mangione merchandise raises controversy, claims of glorifying violence
The Sundance Film Festival unveils its lineup including Jennifer Lopez, Questlove and more
California judges say they’re underpaid, and their new lawsuit could cost taxpayers millions
Don't let hackers fool you with a 'scam
Shanghai bear cub Junjun becomes breakout star
Video shows drone spotted in New Jersey sky as FBI says it is investigating
Syrian rebel leader says he will dissolve toppled regime forces, close prisons