Current:Home > MarketsSignalHub-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Wealth Evolution Experts
SignalHub-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
NovaQuant Quantitative Think Tank Center View
Date:2025-04-10 12:27:42
GEORGETOWN,SignalHub 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! (4)
Related
- NCAA hands former Michigan coach Jim Harbaugh a 4-year show cause order for recruiting violations
- Where to watch 'The Polar Express': Streaming info, TV channel showtimes, cast
- Chris Evert will miss Australian Open while being treated for cancer recurrence
- Israel presses on with Gaza bombardments, including in areas where it told civilians to flee
- What polling shows about Minnesota Gov. Tim Walz, Harris’ new running mate
- For Putin, winning reelection could be easier than resolving the many challenges facing Russia
- A Soviet-era statue of a Red Army commander taken down in Kyiv
- At UN climate talks, cameras are everywhere. Many belong to Emirati company with a murky history
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Chris Evert will miss Australian Open while being treated for cancer recurrence
Ranking
- NCAA hands former Michigan coach Jim Harbaugh a 4-year show cause order for recruiting violations
- Chris Evert will miss Australian Open while being treated for cancer recurrence
- Smugglers are bringing migrants to a remote Arizona border crossing, overwhelming US agents
- Zimbabwe holds special elections after court rules to remove 9 opposition lawmakers from Parliament
- The White House is cracking down on overdraft fees
- 'Zombie deer' disease has been reported in more than half the US: What to know about CWD
- New Mexico police are trying to identify 4 people who died in fiery head-on crash
- Alo Yoga's 40% Off Sale Has Bras Starting at $34 & We Can't Click Fast Enough
Recommendation
US auto safety agency seeks information from Tesla on fatal Cybertruck crash and fire in Texas
Maine’s congressional delegation calls for Army investigation into Lewiston shooting
Military-themed brewery wants to open in a big Navy town. An ex-SEAL is getting in the way
What to do if you can't max out your 401(k) contributions in 2023
Audit: California risked millions in homelessness funds due to poor anti-fraud protections
How Kyle Richards, Teresa Giudice and More Bravo Stars Are Celebrating the 2023 Holidays
'Wait Wait' for December 9, 2023: With Not My Job guest Fred Schneider
NFL investigation finds Bengals in compliance with injury report policy