Current:Home > FinanceToyota 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:2025-04-16 22:50:04
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
- A South Texas lawmaker’s 15
- Tom Sandoval Apologizes to Ariana Madix for His “Reckless Decisions” Amid Breakup
- How Jordan Wiseley's Split With Tori Deal Affected His Future on The Challenge
- Drug trafficking blamed as homicides soar in Costa Rica
- Small twin
- 4 people found dead near the beach in Cancun's hotel area
- Jason Sudeikis and Ted Lasso Cast Tease What's Next for AFC Richmond After Season 3
- How Raquel Leviss Tried to Apologize to Ariana Madix Amid Tom Sandoval Affair Claim, According to Source
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- VPR's Raquel Leviss Accuses Scheana Shay of Punching Her, Obtains Temporary Restraining Order
Ranking
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Prince Harry and Meghan Markle's Daughter Lilibet Christened in California: All the Royal Details
- Oh My Joe! You's Showrunner Breaks Down the Most Shocking Twist Yet and Why [Spoiler] Survived
- Angela Bassett, Hilary Duff and More Stars Share How They're Raising Strong Daughters
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Jason Sudeikis Is a Soccer Dad in Training Thanks to His and Olivia Wilde's Son Otis
- Andrew Tate moved to house arrest in Romania after months in police custody
- U.S. troops diagnosed with traumatic brain injuries after attacks in Syria
Recommendation
'Vanderpump Rules' star DJ James Kennedy arrested on domestic violence charges
The Senate Passes A Bill To Encourage Tech Competition, Especially With China
Italian mayor tweets invitation to Florida principal who resigned after parents complained Michelangelo's David was taught in school
These Are the Most Iconic Oscars Dresses of All Time
The company planning a successor to Concorde makes its first supersonic test
A Japanese girl just graduated from junior high as a class of one, as the light goes out on a small town.
Paris to ban electric rental scooters after city residents overwhelmingly shun the devices in public referendum
Wake Up With Perfect Hair Every Morning and Extend Your Blowout When You Use Sleepy Tie