Current:Home > ScamsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Dynamic Wealth Solutions
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-17 01:14:03
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! (62)
Related
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Oscars 2024 winners list: See who's taking home Academy Award gold in live time
- At least 19 dead, 7 missing as flash floods and landslide hit Indonesia's Sumatra island
- Oscar Moments: Talk of war and peace, a coronation for Nolan, and Ken-demonium for Gosling
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- First photo of Princess Kate since surgery released on Britain's Mother's Day, but questions swirl
- Cry a River Over Justin Timberlake and Jessica Biel’s Perfect Vanity Fair Oscars Party Date Night
- See Sofía Vergara, Heidi Klum and More Stars' Show-Stopping Arrivals at the 2024 Oscars After-Parties
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- First photo of Princess Kate since surgery released on Britain's Mother's Day, but questions swirl
Ranking
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Josef Newgarden opens 2024 IndyCar season with dominating win in St. Petersburg Grand Prix
- 'Let’s make history:' Unfazed Rangers look to win back-to-back World Series titles | Nightengale's Notebook
- Are grocery stores open Easter 2024? See details for Costco, Kroger, Aldi, Whole Foods, more
- Elon Musk's skyrocketing net worth: He's the first person with over $400 billion
- Lindsay Lohan Is So Fetch at Vanity Fair Oscars After-Party for First Time in Over a Decade
- List of winners so far at the 2024 Oscars
- Justin Theroux and Nicole Brydon Bloom Confirm Romance With Vanity Fair Oscar Party Date
Recommendation
Former Syrian official arrested in California who oversaw prison charged with torture
Have you ever been called someone's 'moot'? The social media slang's meaning, unpacked
Georgia readies to resume executions after a 4-year pause brought by COVID and a legal agreement
At 83, filmmaker Hayao Miyazaki earns historic Oscar for ‘The Boy and the Heron’
What do we know about the mysterious drones reported flying over New Jersey?
NFL draft order 2024: Where every team will make picks over seven rounds, 257 picks
Our credit card debt threatens to swamp our savings. Here's how to deal with both
Cry a River Over Justin Timberlake and Jessica Biel’s Perfect Vanity Fair Oscars Party Date Night