Current:Home > InvestCharles Langston:Toyota to invest $922 million to build a new paint facility at its Kentucky complex -FundCenter
Charles Langston:Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Indexbit View
Date:2025-04-09 01:31:53
GEORGETOWN,Charles Langston 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! (35)
Related
- Will the 'Yellowstone' finale be the last episode? What we know about Season 6, spinoffs
- Running is great exercise, but many struggle with how to get started. Here are some tips.
- Captains of smuggling boat that capsized off California, killing 3, sentenced to federal prison
- Older Americans to pay less for some drug treatments as drugmakers penalized for big price jumps
- Federal Spending Freeze Could Have Widespread Impact on Environment, Emergency Management
- 62% of Americans say this zero-interest payment plan should be against the law
- Author James Patterson gives $500 holiday bonuses to hundreds of US bookstore workers
- 1 dead, 1 hospitalized after migrant boat crossing Channel deflates trying to reach Britain
- Which apps offer encrypted messaging? How to switch and what to know after feds’ warning
- Liberian-flagged cargo ship hit by projectile from rebel-controlled Yemen, set ablaze, official says
Ranking
- Working Well: When holidays present rude customers, taking breaks and the high road preserve peace
- Central Indiana man gets 16 years for trying to provide guns to Islamic State group
- More nature emojis could be better for biodiversity
- Eddie Murphy reprises role as Axel Foley in 'Beverly Hills Cop 4.' Watch the Netflix trailer.
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- Pandemic relief funding for the arts was 'staggering'
- Does driving or grocery shopping make you anxious? Your eyes may be the problem.
- Weird, wild and wonderful stories of joy from 2023
Recommendation
Global Warming Set the Stage for Los Angeles Fires
NFL free agency: How top signees have fared on their new teams this season
Ex-FBI counterintelligence official gets over 4 years in prison for aiding Russian oligarch
Cobalt is in demand, so why did America's only cobalt mine close?
The Louvre will be renovated and the 'Mona Lisa' will have her own room
Alaska governor’s budget plan includes roughly $3,400 checks for residents and deficit of nearly $1B
The U.S. is unprepared for the growing threat of mosquito- and tick-borne viruses
Jurors will begin deciding how much Giuliani must pay for lies in a Georgia election workers’ case