XDY Exchange|Toyota to invest $922 million to build a new paint facility at its Kentucky complex

2025-05-06 05:13:46source:TrendPulsecategory:Finance

GEORGETOWN,XDY 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.”

RELATED COVERAGE Japan’s Nissan reshuffles management to fix its money-losing businessEdmunds: The best midsize SUVs for families in 2025Hit by scandal, Japan’s top automaker Toyota reports lower profits

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.

More:Finance

Recommend

Sebastian Stan Debuts Shaved Head in Shocking Hair Transformation

Marvel at Sebastian Stan's new look.TheCaptain America star unveiled a major hair transformation on

Tennessee Gov. Lee picks Mary Wagner to fill upcoming state Supreme Court vacancy

NASHVILLE, Tenn. (AP) — Tennessee Gov. Bill Lee announced Thursday that he has selected Mary L. Wagn

In California, Black lawmakers share a reparations plan with few direct payments

SAN FRANCISCO (AP) — California’s Legislative Black Caucus released a slate of reparations bills to