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Founded in 1937 in Japan, Toyota is one of the largest automotive manufacturers in the world. The company developed the Type A engine in 1934 and created a management style known as "The Toyota Way". Toyota is best known for being the largest company in Japan, producing around 10 million vehicles every year.

The first vehicle Toyota produced was the model AA sedan, which they released in 1936. The base model cost 3,350 yen or the equivalent of $25 USD at that time. While that is only $487 in current value when adjusted for inflation, a mint condition Toyota AA would be worth $103,000 today. Today, Toyota produces a variety of cars, minivans, crossovers, SUVs, and trucks. Their current model lineup includes the Yaris, Camry, Avalon, Corolla, Prius, Sienna, C-HR, Rav4, 4Runner, Highlander, Tacoma, and Tundra. Toyota’s highest sales since 2005 were in 2007 when it sold 2,158,165 vehicles in the US alone.

Toyota plans to invest $35 billion into its electric vehicle research and development, with the intention of creating 30 battery-powered electric vehicles (BEVs) by 2030. The company also stated they will increase their global BEV sales by 3.5 million per year by the end of the 2020s. Currently, most Toyotas EV sales come from their hybrid line, which combines internal combustion and battery-powered engines. Toyota also plans to invest 4 trillion yen (nearly $30 billion USD) into other types of EVs, including hydrogen fuel-cell vehicles.