ic long-term cooperation in the field of sustainable mobility by signing binding agreements aimed at long-term collaboration between the two companies for the joint development of a fuel cell system, joint development of architecture and components for a sports vehicle, and joint research and development of lightweight technologies. Competition The company’s principal competitors in Europe include Volkswagen, Opel, Renault, Ford Motor Company, and Peugeot, as well as Korean manufacturers, such as Hyundai and Kia. History Toyota Motor Corporation was founded in 1933. The company, a limited liability, joint-stock company, was incorporated under the Commercial Code of Japan and continues to exist under the Companies Act.