Current:Home > FinanceToyota to invest $922 million to build a new paint facility at its Kentucky complex -ProfitSphere Academy
Toyota to invest $922 million to build a new paint facility at its Kentucky complex
View
Date:2025-04-14 04:12:40
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! (44226)
Related
- Paula Abdul settles lawsuit with former 'So You Think You Can Dance' co
- Producer sues Fox News, alleging she's being set up for blame in $1.6 billion suit
- Former NFL Star Ryan Mallett Dead at 35 in Apparent Drowning at Florida Beach
- Who are the Hunter Biden IRS whistleblowers? Joseph Ziegler, Gary Shapley testify at investigation hearings
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- Kellie Pickler and Kyle Jacobs' Sweet Love Story: Remembering the Light After His Shocking Death
- As Lake Powell Hits Landmark Low, Arizona Looks to a $1 Billion Investment and Mexican Seawater to Slake its Thirst
- Why are Hollywood actors on strike?
- Off the Grid: Sally breaks down USA TODAY's daily crossword puzzle, Triathlon
- Inside Clean Energy: Yes, We Can Electrify Almost Everything. Here’s What That Looks Like.
Ranking
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- Why Nepo Babies Are Bad For Business (Sorry, 'Succession')
- Former NFL Star Ryan Mallett Dead at 35 in Apparent Drowning at Florida Beach
- UNEP Chief Inger Andersen Says it’s Easy to Forget all the Environmental Progress Made Over the Past 50 Years. Climate Change Is Another Matter
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Disney blocked DeSantis' oversight board. What happens next?
- UFC and WWE will team up to form a $21.4 billion sports entertainment company
- 11 horses die in barbaric roundup in Nevada caught on video, showing animals with broken necks
Recommendation
Megan Fox's ex Brian Austin Green tells Machine Gun Kelly to 'grow up'
Tech leaders urge a pause in the 'out-of-control' artificial intelligence race
Inside Clean Energy: Lawsuit Recalls How Elon Musk Was King of Rooftop Solar and then Lost It
A New Hampshire beauty school student was found dead in 1981. Her killer has finally been identified.
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Get a Tan in 1 Hour and Save 42% On St. Tropez Express Self-Tanning Mousse
Inside Clean Energy: Solar Panel Prices Are Rising, but Don’t Panic.
All new cars in the EU will be zero-emission by 2035. Here's where the U.S. stands
Like
- EU countries double down on a halt to Syrian asylum claims but will not yet send people back
- A Just Transition? On Brooklyn’s Waterfront, Oil Companies and Community Activists Join Together to Create an Offshore Wind Project—and Jobs
- Need a consultant? This book argues hiring one might actually damage your institution