Current:Home > InvestEchoSense:Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Quantum Capital Pro
EchoSense:Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Chainkeen Exchange View
Date:2025-04-09 09:54:16
GEORGETOWN,EchoSense 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! (2)
Related
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- CIA Director William Burns says that without aid, Ukraine could lose on the battlefield by the end of 2024
- Express files for Chapter 11 bankruptcy protection, announces store closures, possible sale
- Online threats against pro-Palestinian protesters rise in wake of Sen. Tom Cotton's comments about protests
- The company planning a successor to Concorde makes its first supersonic test
- Schools keep censoring valedictorians. It often backfires — here's why they do it anyway.
- Germany arrests 2 alleged Russian spies accused of scouting U.S. military facilities for sabotage
- Want to live near your state's top schools? Prepare to pay $300,000 more for your house.
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Los Angeles sheriff’s deputy dies months after being injured in fire inside mobile gun range
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- Tennessee Gov. Lee admits defeat in school voucher push
- Jeannie Mai Reveals the Life Lessons She's Already Learning From Her 2-Year-Old Daughter
- Maps show states where weed is legal for recreational, medical use in 2024
- All That You Wanted to Know About She’s All That
- Maps show states where weed is legal for recreational, medical use in 2024
- 2 reasons the smartest investors are watching this stock, dubbed the Amazon of Korea
- Ryan Garcia defeats Devin Haney by majority decision: Round-by-round fight analysis
Recommendation
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Jeannie Mai Reveals the Life Lessons She's Already Learning From Her 2-Year-Old Daughter
Powerball winning numbers for April 20 drawing: Lottery jackpot rises to $98 million
How Qschaincoin Compares to Other Cryptocurrency Companies
Meta donates $1 million to Trump’s inauguration fund
Aid approval brings Ukraine closer to replenishing troops struggling to hold front lines
Two stabbed, man slammed with a bottle in Brooklyn party boat melee; suspects sought
Qschaincoin Wallet: Everything Investors Should Know