Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -Prime Capital Blueprint
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-16 16:34:18
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! (64914)
Related
- Current, future North Carolina governor’s challenge of power
- Keep trick-or-treating accessible for all: a few simple tips for an inclusive Halloween
- Halloween candy sales not so sweet: Bloomberg report
- Live updates | Israeli military intensifies strikes on Gaza including underground targets
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Rangers star Corey Seager shows raw emotion in dramatic World Series comeback
- Friends' Maggie Wheeler Mourns Onscreen Love Matthew Perry
- Live updates | Palestinian officials say death toll rises from expanded Israel military operation
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- How many muscles are in the human body? The answer may surprise you.
Ranking
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Thousands rally in Pakistan against Israel’s bombing in Gaza, chanting anti-American slogans
- Poultry companies ask judge to dismiss ruling that they polluted an Oklahoma watershed
- Rescuers search for missing migrants off Sicilian beach after a shipwreck kills at least 5
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Talks on Ukraine’s peace plan open in Malta with officials from 65 countries — but not Russia
- Police say shooting at Chicago house party leaves 15 people injured, including 2 critically
- Alabama’s forgotten ‘first road’ gets a new tourism focus
Recommendation
At site of suspected mass killings, Syrians recall horrors, hope for answers
Abercrombie & Fitch, former CEO Mike Jeffries accused of running trafficking operation
UAW reaches tentative deal with Chrysler parent Stellantis to end 6-week strike
Winners and losers of college football's Week 9: Kansas rises up to knock down Oklahoma
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
Anchorage’s oldest building, a Russian Orthodox church, gets new life in restoration project
Kelly dominates on mound as Diamondbacks bounce back to rout Rangers 9-1 and tie World Series 1-all
'Friends' star Matthew Perry dies at age 54, reports say