Current:Home > MarketsToyota 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:2025-04-17 06:40:10
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! (2971)
Related
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Michigan Wolverines return home to screaming fans after victory over Washington Huskies
- Saving Money in 2024? These 16 Useful Solutions Basically Pay For Themselves
- Walmart experiments with AI to enhance customers' shopping experiences
- Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
- Missouri lawmaker expelled from Democratic caucus announces run for governor
- A teen on the Alaska Airlines flight had his shirt ripped off when the door plug blew. A stranger tried to help calm him down.
- What does 'highkey' mean? Get to know the Gen-Z lingo and how to use it.
- Opinion: Gianni Infantino, FIFA sell souls and 2034 World Cup for Saudi Arabia's billions
- Boy George reveals he's on Mounjaro for weight loss in new memoir: 'Isn't everyone?'
Ranking
- Sonya Massey's father decries possible release of former deputy charged with her death
- Shanna Moakler Accuses Ex Travis Barker and Kourtney Kardashian of Parenting Alienation
- Musk's X signs content deals with Don Lemon, Tulsi Gabbard and Jim Rome
- U.S. cut climate pollution in 2023, but not fast enough to limit global warming
- Could your smelly farts help science?
- Kim calls South Korea a principal enemy as his rhetoric sharpens in a US election year
- 'Holding our breath': Philadelphia officials respond to measles outbreak from day care
- With California’s deficit looming, schools brace for Gov. Gavin Newsom’s spending plan
Recommendation
Intel's stock did something it hasn't done since 2022
Defense Secretary Lloyd Austin was hospitalized for infection related to surgery for prostate cancer, Pentagon says
Kaitlyn Dever tapped to join Season 2 of 'The Last of Us'
Walmart experiments with AI to enhance customers' shopping experiences
Woman dies after Singapore family of 3 gets into accident in Taiwan
Matthew Perry’s Death Investigation Closed by Police
Apple is sending out payments to iPhone owners impacted by batterygate. Here's what they are getting.
Adan Canto, 'Designated Survivor' and 'X-Men' star, dies at 42 after cancer battle