Current:Home > reviewsToyota 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
Chainkeen View
Date:2025-04-05 22:35:11
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! (44)
Related
- Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
- GoDaddy Is Booting A Site That Sought Anonymous Tips About Texas Abortions
- Sudan military factions at war with each other leave civilians to cower as death toll tops 100
- NASA's Got A New, Big Telescope. It Could Find Hints Of Life On Far-Flung Planets
- McConnell absent from Senate on Thursday as he recovers from fall in Capitol
- Facebook will adopt new policies to address harassment targeting public figures
- Your Next iPhone Could Have 1 Terabyte Of Storage
- What The Ruling In The Epic Games V. Apple Lawsuit Means For iPhone Users
- Tree trimmer dead after getting caught in wood chipper at Florida town hall
- What A Trump Defense Secretary Said At The Elizabeth Holmes Trial
Ranking
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Ancient scoreboard used during Mayan ball game discovered by archaeologists
- An original Apple-1 computer sells for $400,000
- TikTok Activists Are Flooding A Texas Abortion Reporting Site With Spam
- Questlove charts 50 years of SNL musical hits (and misses)
- Meryl Streep Takes Center Stage in Only Murders in the Building Season 3 Teaser
- States are investigating how Instagram recruits and affects children
- Putin meets with China's defense minister in Moscow
Recommendation
A White House order claims to end 'censorship.' What does that mean?
Lyft And Uber Will Pay Drivers' Legal Fees If They're Sued Under Texas Abortion Law
Twitch, the popular game streaming service, confirms that its data has been hacked
Apple Is Delaying Its Plan To Scan U.S. iPhones For Images Of Child Sexual Abuse
Military service academies see drop in reported sexual assaults after alarming surge
Oscars 2023: Colin Farrell and 13-Year-Old Son Henry Twin on Red Carpet
William Shatner boldly went into space for real. Here's what he saw
White House brings together 30 nations to combat ransomware