Toyota Motor Corporation is a Japanese multinational automaker headquartered in Toyota, Aichi, Japan. In 2010, Toyota employed 300,734 people worldwide,[2] and was the third-largest automobile manufacturer in 2011 by production behind General Motors and Volkswagen Group.[3] Toyota is the eleventh-largest company in the world by revenue. In July 2012, the company reported it had manufactured its 200-millionth vehicle.[4]
The company was founded by Kiichiro Toyoda in 1937 as a spinoff from his father's company Toyota Industries to create automobiles. Three years earlier, in 1934, while still a department of Toyota Industries, it created its first product, the Type A engine, and, in 1936, its first passenger car, theToyota AA. Toyota Motor Corporation group companies are Toyota (including the Scion brand), Lexus, Daihatsu, and Hino Motors,[5] along with several "nonautomotive" companies.[6] TMC is part of the Toyota Group, one of the largest conglomerates in the world.
In 1982, the Toyota Motor Company and Toyota Motor Sales merged into one company, the Toyota Motor Corporation. Two years later, Toyota entered into a joint venture with General Motors called the New United Motor Manufacturing, Inc, NUMMI, operating an automobile-manufacturing plant in Fremont, California. The factory was an old General Motors plant that had been closed for two years. Toyota then started to establish new brands at the end of the 1980s, with the launch of their luxury division Lexus in 1989.
In the 1990s, Toyota began to branch out from producing mostly compact cars by adding many larger and more luxurious vehicles to its lineup, including a full-sized pickup, the T100 (and later the Tundra); several lines of SUVs; a sport version of the Camry, known as the Camry Solara; and theScion brand, a group of several affordable, yet sporty, automobiles targeted specifically to young adults. Toyota also began production of the world's best-selling hybrid car, the Prius,