Current:Home > MarketsToyota to invest $922 million to build a new paint facility at its Kentucky complex -VitalWealth Strategies
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-19 04:38:20
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! (32573)
Related
- Average rate on 30
- Tiger Woods has never been less competitive, but he’s also never been more relevant
- How much water should a cat drink? It really depends, vets say
- The Buck Moon is almost here. Here's when and where to see July's full moon.
- Military service academies see drop in reported sexual assaults after alarming surge
- Revisiting Josh Hartnett’s Life in Hollywood Amid Return to Spotlight
- Ernest Hemingway fans celebrate the author’s 125th birthday in his beloved Key West
- Brittney Griner announces birth of first child: 'He is amazing'
- John Galliano out at Maison Margiela, capping year of fashion designer musical chairs
- How to spot misinformation: 5 tips from CBS News Confirmed
Ranking
- The Super Bowl could end in a 'three
- DNC backs virtual roll call vote for Biden as outside groups educate delegates about other scenarios
- 8.5 million computers running Windows affected by faulty update from CrowdStrike
- Endangered tiger cubs make their public debut at zoo in Germany
- In ‘Nickel Boys,’ striving for a new way to see
- Plane crash in Ohio leaves 3 people dead; NTSB, FAA investigating
- Ten Commandments posters won't go in Louisiana classrooms until November
- Baseball 'visionary' gathering support to get on Hall of Fame ballot
Recommendation
Scoot flight from Singapore to Wuhan turns back after 'technical issue' detected
Allisha Gray cashes in at WNBA All-Star weekend, wins skills and 3-point contests
Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Mixed Emotions
Rafael Nadal reaches first final since 2022 French Open
Senate begins final push to expand Social Security benefits for millions of people
Why Caitlin Clark wasn't in WNBA 3-point contest tonight: 'I need a break'
Pelosi delivers speech to NC Democrats with notable absence — Biden’s future as nominee
Florida man arrested after alleged threats against Donald Trump, JD Vance