Current:Home > StocksEthermac Exchange-Toyota to invest $922 million to build a new paint facility at its Kentucky complex -Finovate
Ethermac Exchange-Toyota to invest $922 million to build a new paint facility at its Kentucky complex
Burley Garcia View
Date:2025-04-09 23:28:08
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! (35)
Related
- Dick Vitale announces he is cancer free: 'Santa Claus came early'
- NBA on Christmas: Schedule, times, TV info, how to watch league's annual holiday showcase
- Former NFL player Mike Williams died of dental-related sepsis, medical examiner says
- The Impact of Restrictive Abortion Laws in 2023
- Apple iOS 18.2: What to know about top features, including Genmoji, AI updates
- Ash from Indonesia’s Marapi volcano forces airport to close and stops flights
- Oscars shortlist includes 'I'm Just Ken,' 'Oppenheimer.' See what else made the cut.
- Smoothies are more popular than ever. But are they healthy?
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- Connecticut man gets 12 years in prison for failed plan to fight for Islamic State in Syria
Ranking
- 'Survivor' 47 finale, part one recap: 2 players were sent home. Who's left in the game?
- 3 Washington state police officers found not guilty in 2020 death of Black man who said 'I can't breathe'
- Arriving police unknowingly directed shooter out of building during frantic search for UNLV gunman
- 'Everyone walked away with part of themselves healed' – 'The Color Purple' reimagined
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- AP-Week in Pictures-North America
- For more eco-friendly holiday wrapping, some turn to the Japanese art of furoshiki
- Chicago man exonerated in 2011 murder case where legally blind eyewitness gave testimony
Recommendation
This was the average Social Security benefit in 2004, and here's what it is now
You'll Shine in These 21 Plus-Size New Year's Eve Dresses Under $50
North Korea’s reported use of a nuclear complex reactor might be an attempt to make bomb fuels
The war took away their limbs. Now bionic prostheses empower wounded Ukrainian soldiers
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
German medical device maker plans $88 million expansion in suburban Atlanta, hiring more than 200
Former Kenyan minister and 2 others charged with fraud over hospitality college project
North Korea’s reported use of a nuclear complex reactor might be an attempt to make bomb fuels