Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Global Capital Summit
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Chainkeen View
Date:2025-04-09 20:56:51
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! (197)
Related
- US appeals court rejects Nasdaq’s diversity rules for company boards
- As climate threats grow, poor countries still aren't getting enough money to prepare
- Confusion, frustration and hope at Gaza’s border with Egypt as first foreign passport-holders depart
- College student is fatally shot in Salem as revelers take part in Halloween celebration
- Person accused of accosting Rep. Nancy Mace at Capitol pleads not guilty to assault charge
- Georgia Tech scientist sentenced to nearly 6 years for defrauding university, CIA
- Lynyrd Skynyrd, ZZ Top announce 2024 tour with stops in 36 cities: See the list
- Opposition mounts in Arab countries that normalized relations with Israel
- Sonya Massey's father decries possible release of former deputy charged with her death
- House weighs censure efforts against Rashida Tlaib and Marjorie Taylor Greene over their rhetoric
Ranking
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- Friends Creator Reflects on Final Conversation With Matthew Perry 2 Weeks Before His Death
- Mormon church sued again over how it uses tithing contributions from members
- Travis Kelce Reacts to Halloween Costumes Inspired by Taylor Swift Romance
- Highlights from Trump’s interview with Time magazine
- I Bond interest rate hits 5.27% with fixed rate boost: What investors should know
- Yes, they've already picked the Rockefeller Center's giant Christmas tree for 2023
- Horoscopes Today, November 1, 2023
Recommendation
Meet the volunteers risking their lives to deliver Christmas gifts to children in Haiti
Air ambulance crash kills 4 crew members in central Mexico
North Korea has likely sent missiles as well as ammunition and shells to Russia, Seoul says
Proof a Larsa Pippen, Marcus Jordan Engagement Is Just Around the Corner
The Super Bowl could end in a 'three
Tyler Christopher, General Hospital and Days of Our Lives actor, dies at 50
Eminem's Daughter Hailie Jade Shares Rare Insight Into Bond With Sibling Stevie
Biden calls for humanitarian ‘pause’ in Israel-Hamas war