Current:Home > ContactEthermac Exchange-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Mastery Money Tools
Ethermac Exchange-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Ethermac Exchange View
Date:2025-04-10 09:23:19
GEORGETOWN,Ethermac Exchange 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! (28392)
Related
- The Daily Money: Spending more on holiday travel?
- 'The Marvels' is No. 1 but tanks at the box office with $47M, marking a new MCU low
- More than 800 Sudanese reported killed in attack on Darfur town, UN says
- Shohei Ohtani is MLB's best free agent ever. Will MVP superstar get $500 million?
- Everything Simone Biles did at the Paris Olympics was amplified. She thrived in the spotlight
- Pope forcibly removes a leading US conservative, Texas bishop Strickland
- Shohei Ohtani is MLB's best free agent ever. Will MVP superstar get $500 million?
- Dubai air chiefs summit, sponsored by Israeli firm, avoids discussing strikes as Hamas war rages
- Boy who wandered away from his 5th birthday party found dead in canal, police say
- Indigenous tribe works to establish marine sanctuary along California coastline
Ranking
- A Mississippi company is sentenced for mislabeling cheap seafood as premium local fish
- Does shaving make hair thicker? Experts weigh in on the common misconception.
- Robert De Niro's company found liable in gender discrimination lawsuit filed by former assistant
- Texas police officer killed in a shooting that left another officer wounded
- 'Kraven the Hunter' spoilers! Let's dig into that twisty ending, supervillain reveal
- Vatican monastery that served as Pope Benedict XVI’s retirement home gets new tenants
- Macron urges France to rise up against ‘unbearable resurgence of antisemitism’ before Paris march
- Charity works to help military families whose relationships have been strained by service
Recommendation
Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
Israel prepares for Euro 2024 qualifying game at Kosovo amid tight security measures
The 2024 Tesla Model 3 isn't perfect, but fixes nearly everything we used to hate
5 US service members die when helicopter crashes in Mediterranean training accident
Chuck Scarborough signs off: Hoda Kotb, Al Roker tribute legendary New York anchor
Suspect released in fatal stabbing of Detroit synagogue leader
Israel loses to Kosovo in Euro 2024 qualifying game
Britney Spears' manager reacts to 'SNL' poking fun at 'The Woman in Me' audiobook auditions: 'Pathetic'