Current:Home > ContactToyota to invest $922 million to build a new paint facility at its Kentucky complex -Blueprint Money Mastery
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 01:38:24
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! (92)
Related
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Eagles head of security Dom DiSandro banned from sideline for Sunday's game vs. Cowboys
- Military-themed brewery wants to open in a big Navy town. An ex-SEAL is getting in the way
- Elon Musk restores X account of conspiracy theorist Alex Jones
- Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
- New Mexico police are trying to identify 4 people who died in fiery head-on crash
- New Mexico police are trying to identify 4 people who died in fiery head-on crash
- New York increases security at Jewish sites after shots fired outside Albany synagogue
- Angelina Jolie nearly fainted making Maria Callas movie: 'My body wasn’t strong enough'
- A gigantic new ICBM will take US nuclear missiles out of the Cold War-era but add 21st-century risks
Ranking
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Major changes to US immigration policy are under discussion. What are they and what could they mean?
- Bachelor Nation Status Check: Who's Still Continuing Their Journey After Bachelor in Paradise
- LSU QB Jayden Daniels wins 2023 Heisman Trophy
- Nearly half of US teens are online ‘constantly,’ Pew report finds
- Eagles security guard DiSandro banned from sideline for Sunday Night Football vs. Cowboys
- Former Black Panther convicted in 1970 bombing of Nebraska officer dies in prison
- Army holds on with goal-line stand in final seconds, beats Navy 17-11
Recommendation
Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
Bachelor Nation Status Check: Who's Still Continuing Their Journey After Bachelor in Paradise
High school students lift car to rescue woman, 2-year-old child in Utah: Watch video
Divers recover the seventh of 8 crew members killed in crash of a US military Osprey off Japan
Meta releases AI model to enhance Metaverse experience
H&M's Sale Has On-Trend Winter Finds & They're All up to 60% Off
The NRA has a surprising defender in its free speech case before the Supreme Court: the ACLU
Police in Lubbock, Texas, fatally shoot a man who officer say charged them with knives