Current:Home > ScamsChainkeen|Toyota to invest $922 million to build a new paint facility at its Kentucky complex -CapitalCourse
Chainkeen|Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Indexbit Exchange View
Date:2025-04-06 16:26:26
GEORGETOWN,Chainkeen 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! (85)
Related
- What do we know about the mysterious drones reported flying over New Jersey?
- Super Bowl prop bets for 2024 include Taylor Swift and Usher's shoes
- Alaska governor pitches teacher bonuses as debate over education funding dominates session
- Caregivers spend a whopping $7,200 out of pocket. New bill would provide tax relief.
- New Mexico governor seeks funding to recycle fracking water, expand preschool, treat mental health
- Cher Denied Conservatorship of Son Elijah Blue Allman
- Predictions for MLB's top remaining 2024 free agents: Who will sign Cy Young winner?
- Shark attacks and seriously injures woman swimming in Sydney Harbor: I heard a soft yell for help
- Rams vs. 49ers highlights: LA wins rainy defensive struggle in key divisional game
- UPS to layoff nearly 12,000 employees across the globe to 'align resources for 2024'
Ranking
- NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
- Wisconsin governor signs legislative package aimed at expanding access to dental care
- Academy of American Poets receives its largest ever donation
- Carnival reroutes Red Sea cruises as fighting in the region intensifies
- Highlights from Trump’s interview with Time magazine
- Mark Zuckerberg, Linda Yaccarino among tech CEOs grilled for failing to protect kids
- 'Redemption': Wedding photographer's free portraits for addicts put face on recovery
- Boeing declines to give a financial outlook as it focuses on quality and safety
Recommendation
Civic engagement nonprofits say democracy needs support in between big elections. Do funders agree?
Broadway Star Hinton Battle Dead at 67
Stock market today: Asia markets mixed ahead of Fed decision; China economic data disappoint
Ex-Pakistan leader Imran Khan gets 10 years for revealing state secrets, in latest controversial legal move
Nearly half of US teens are online ‘constantly,’ Pew report finds
Man accused of beheading his father, police investigating video allegedly showing him with the head
Massachusetts state troopers among 6 charged in commercial driver's license bribery scheme
Travis Kelce Shares Sweet Message for Taylor Swift Ahead of 2024 Grammys