Toyota Motor is a global car manufacturer. The company designs and builds passenger cars, mini vehicles and commercial vehicles. Besides the Toyota brand the company also sells luxury cars under the Lexus brand, Daihatsu mini vehicles and Hino trucks. Toyota manufactures and sells over 10 million vehicles per year in every region of the world. 90% of revenues are from the automotive division with the other 10% mainly coming from the finance division that provides car loans and leasing finance. 32% of cars are sold in Asia, 28% in North America, 17% in Japan, 11% in Europe, 4% in Middle East, 3% in Latin America, 3% in Oceania and 2% in Africa. In 1890 Toyota started as a maker of wooden hand looms. In 1935, the first automobile prototype was developed. Today Toyota employs over 370,000 people globally and is headquartered in Toyota City, Japan.
In 1997, Toyota introduced the world’s first hybrid electric vehicle (HEV), the Prius, and in 2014 it introduced the first hydrogen powered vehicle (FCEV), the Mirai. Until the end of 2020, Toyota had sold a cumulative total of 17 million HEVs, PHEVs and FCEVs reducing CO2 emissions by more than 130 million ton per year. In 2019, Toyota made its hybrid technology freely available to the market. On a global basis Toyota has a 40% market share of alternative fuel vehicles, with a 64% share in the hybrid and plug-in markets. Toyota deliberately skipped the current generation fully electric vehicles (BEV) that use ion-lithium batteries. The company has put all its efforts on the next generation solid state batteries that have much better performance and require substantially less rare earth metals and chemicals. These batteries will come to the market within the next few years. By 2025 Toyota wants to have an electrified version of all its models and has built a global production platform that enable that ambition. Toyota has a very good track record on safety and reliability. In many surveys of consumer groups and industry organisations, Toyota shows low maintenance costs and above average residual values. This keeps total cost of ownership for car owners low and helps in extending the useful life of cars.