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
View
Date:2025-04-16 00:57:47
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! (24973)
Related
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Selling Sunset Reveals What Harry Styles Left Behind in His Hollywood House
- Sickle cell patient's success with gene editing raises hopes and questions
- An Iowa Couple Is Dairy Farming For a Climate-Changed World. Can It Work?
- In ‘Nickel Boys,’ striving for a new way to see
- Mass Die-Off of Puffins Raises More Fears About Arctic’s Warming Climate
- This Week in Clean Economy: Wind, Solar Industries in Limbo as Congress Set to Adjourn
- Nicky Hilton Shares Advice She Gave Sister Paris Hilton On Her First Year of Motherhood
- Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
- Justin Timberlake Declares He's Now Going By Jessica Biel's Boyfriend After Hilarious TikTok Comment
Ranking
- Why we love Bear Pond Books, a ski town bookstore with a French bulldog 'Staff Pup'
- Country Singer Jimmie Allen Apologizes to Estranged Wife Alexis for Affair
- Calpak's Major Memorial Day Sale Is Here: Get 55% Off Suitcase Bundles, Carry-Ons & More
- This Week in Clean Economy: Dueling Solyndra Ads Foreshadow Energy-Centric Campaign
- Juan Soto praise of Mets' future a tough sight for Yankees, but World Series goal remains
- The FDA approves the overdose-reversing drug Narcan for over-the-counter sales
- Michigan man arrested for planning mass killing at synagogue
- You asked: Can we catch a new virus from a pet? A cat-loving researcher has an answer
Recommendation
Macy's says employee who allegedly hid $150 million in expenses had no major 'impact'
The Politics Of Involuntary Commitment
California could ban certain food additives due to concerns over health impacts
Salman Rushdie Makes First Onstage Appearance Since Stabbing Attack
Sonya Massey's father decries possible release of former deputy charged with her death
Our Growing Food Demands Will Lead to More Corona-like Viruses
Khloe Kardashian Unveils New Photo of Her Growing Baby Boy
Yellowstone’s Grizzlies Wandering Farther from Home and Dying in Higher Numbers