Current:Home > ScamsAlgosensey|Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Elevate Capital Network
Algosensey|Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Surpassing Quant Think Tank Center View
Date:2025-04-07 04:57:49
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! (419)
Related
- Meta releases AI model to enhance Metaverse experience
- News Round Up: FDA chocolate assessment, a powerful solar storm and fly pheromones
- Kate Spade 24-Hour Flash Deal: Get This $380 Backpack for Just $99
- 10 things to know about how social media affects teens' brains
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Coastal Flooding Is Erasing Billions in Property Value as Sea Level Rises. That’s Bad News for Cities.
- Uma Thurman and Ethan Hawke's 21-year-old Son Levon Makes Rare Appearance at Cannes Film Festival
- Insurance-like Product Protects Power Developers from Windless Days
- NCAA President Charlie Baker would be 'shocked' if women's tournament revenue units isn't passed
- Trisha Yearwood Shares How Husband Garth Brooks Flirts With Her Over Text
Ranking
- Are Instagram, Facebook and WhatsApp down? Meta says most issues resolved after outages
- 86-year-old returns George Orwell's 1984 to library 65 years late, saying it needs to be read more than ever
- Malaysia wants Interpol to help track down U.S. comedian Jocelyn Chia over her joke about disappearance of flight MH370
- Is Your Skin Feeling Sandy? Smooth Things Over With These 12 Skincare Products
- Buckingham Palace staff under investigation for 'bar brawl'
- Enbridge’s Kalamazoo River Oil Spill Settlement Greeted by a Flood of Criticism
- With student loan forgiveness in limbo, here's how the GOP wants to fix college debt
- Shoppers Can’t Get Enough of This Sol de Janeiro Body Cream and Fragrance With 16,800+ 5-Star Reviews
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
A food subsidy many college students relied on is ending with the pandemic emergency
For these virus-hunting scientists, the 'real gold' is what's in a mosquito's abdomen
DOE Explores a New Frontier In Quest for Cheaper Solar Panels
Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
A new study offers hints that healthier school lunches may help reduce obesity
Some Starbucks workers say Pride Month decorations banned at stores, but the company says that's not true
New York City Is Latest to Launch Solar Mapping Tool for Building Owners