Current:Home > FinanceEthermac|Toyota to invest $922 million to build a new paint facility at its Kentucky complex -ProfitEdge
Ethermac|Toyota to invest $922 million to build a new paint facility at its Kentucky complex
FinLogic FinLogic Quantitative Think Tank Center View
Date:2025-04-06 22:10:25
GEORGETOWN,Ethermac 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! (6)
Related
- The White House is cracking down on overdraft fees
- Teen Wolf's Tyler Posey Marries Singer Phem During Star-Studded Wedding
- Cricket’s Olympic return draws an enthusiastic response from around the world
- Watchdog Finds a US Chemical Plant Isn’t Reporting Emissions of Climate Super-Pollutants and Ozone-Depleting Substances to Federal Regulators
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- Norway’s prime minister shuffles Cabinet after last month’s local election loss
- 6 killed in Russian attacks on Ukraine as Kyiv continues drone counterstrikes
- Is it a good idea to have a Roth 401(k)? Why it may be better than a Roth IRA, for some.
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Child advocates ask why Kansas left slain 5-year-old in dangerous environment: 'Society's collective failure'
Ranking
- Behind on your annual reading goal? Books under 200 pages to read before 2024 ends
- See JoJo Siwa Like Never Before in Intense Punching Match With Olympian Erin Jackson
- What is direct indexing? How you can use it to avoid taxes like the super-rich
- Women’s voices being heard at Vatican’s big meeting on church’s future, nun says
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- Former Navajo Nation president announces his candidacy for Arizona’s 2nd Congressional District
- Gaza’s desperate civilians search for food, water and safety, as warnings of Israeli offensive mount
- France player who laughed during minute’s silence for war victims apologizes for ‘nervous laugh’
Recommendation
Trump invites nearly all federal workers to quit now, get paid through September
Florida Judge Jeffrey Ashton accused of child abuse, Gov. DeSantis exec. order reveals
With homelessness high, California tries an unorthodox solution: Tiny house villages
North Side High School's mariachi program honors its Hispanic roots through music
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
The Israel-Hamas war has roiled US campuses. Students on each side say colleges aren’t doing enough
Arrest made in airport parking garage shooting that killed Philadelphia officer and injured another
Israel-Hamas war upends China’s ambitions in the Middle East but may serve Beijing in the end