Current:Home > FinanceAlgosensey|Toyota to invest $922 million to build a new paint facility at its Kentucky complex -VisionFunds
Algosensey|Toyota to invest $922 million to build a new paint facility at its Kentucky complex
TradeEdge View
Date:2025-04-06 23:51:12
GEORGETOWN,Algosensey 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! (5889)
Related
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- Trump tells women he ‘will be your protector’ as GOP struggles with outreach to female voters
- The Ultimatum's Madlyn Ballatori & Colby Kissinger Expecting Baby No. 3
- Chiefs RB depth chart: Kareem Hunt fantasy outlook after 53-man roster signing
- 'Most Whopper
- Why Fans Think Camila Cabello Shaded Sabrina Carpenter During Concert
- Julianne Hough Reveals Her “Wild” Supernatural Abilities
- This AI chatbot can help you get paid family leave in 9 states. Here's how.
- The company planning a successor to Concorde makes its first supersonic test
- More women are charged with pregnancy-related crimes since Roe’s end, study finds
Ranking
- Meta releases AI model to enhance Metaverse experience
- Dolly Parton Has the Best Reaction After Learning She and Goddaughter Miley Cyrus Are Actually Related
- Francis Ford Coppola’s ‘Megalopolis’ is one from the heart
- Lady Gaga reveals surprise album and fans only have to wait until Friday for 'Harlequin'
- 'We're reborn!' Gazans express joy at returning home to north
- Ex-NYC COVID adviser is fired after video reveals he attended parties during pandemic
- Two people killed, 5 injured in Texas home collapse
- Why does Ozempic cost so much? Senators grilled Novo Nordisk CEO for answers.
Recommendation
Highlights from Trump’s interview with Time magazine
Woman alleges Sean ‘Diddy’ Combs raped her on video in latest lawsuit
Woman alleges Sean ‘Diddy’ Combs raped her on video in latest lawsuit
Major movie theater chains unveil $2.2 billion plan to improve 'cinematic experience'
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
Major movie theater chains unveil $2.2 billion plan to improve 'cinematic experience'
Suit seeks to overturn Georgia law on homeless voter registration and voter challenges
Suit seeks to overturn Georgia law on homeless voter registration and voter challenges