Current:Home > StocksToyota to invest $922 million to build a new paint facility at its Kentucky complex -Wealth Impact Academy
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-15 23:04:21
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! (9527)
Related
- Most popular books of the week: See what topped USA TODAY's bestselling books list
- Student loan borrowers are facing nightmare customer service issues, prompting outcry from states
- Mega Millions heats up to an estimated $315 million. See winning numbers for Oct. 3
- At $1.2 billion, Powerball jackpot is now third-biggest ever: When is the next drawing?
- B.A. Parker is learning the banjo
- Taiwan indicts 2 communist party members accused of colluding with China to influence elections
- NFL power rankings Week 5: Bills, Cowboys rise after resounding wins
- Valerie Bertinelli re-wears her 'fat clothes' from weight loss ad: 'Never felt more beautiful'
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Pope will open a big Vatican meeting as battle lines are drawn on his reform project
Ranking
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Idaho and Missouri shift to Republican presidential caucuses after lawmakers cancel primaries
- Ford lays off 330 more factory workers because of UAW strike expansion
- Watch Gwen Stefani’s Reaction to Niall Horan’s Hilarious Impression of Blake Shelton
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Michael Jordan, now worth $3 billion, ranks among Forbes' richest 400 people
- Abercrombie & Fitch ex-CEO Mike Jeffries accused of exploiting men for sex through organized operation
- US adds another option for fall COVID vaccination with updated Novavax shots
Recommendation
Costco membership growth 'robust,' even amid fee increase: What to know about earnings release
UK police open a corporate manslaughter investigation into a hospital where a nurse killed 7 babies
Donald Trump drops from the Forbes 400 list of richest Americans. Here's what changed.
Jamie Lynn Spears eliminated in shocking 'Dancing With the Stars' Week 2. What just happened?
Warm inflation data keep S&P 500, Dow, Nasdaq under wraps before Fed meeting next week
Michael Connelly, Nikki Grimes, Judy Blume and other authors unite against book bans
Migrant deaths more than doubled in El Paso Sector after scorching heat, Border Patrol data says
75,000 Kaiser Permanente health care workers launch historic health care strike