The company was established on August 3, 1988, as a joint venture between Toyota, Mitsui & Co and GT Capital.

[1][2][3] Its main production facility, the 82-hectare Toyota Special Economic Zone (TSEZ), is located in Santa Rosa, Laguna for assembling cars.

Operations came to a halt in December 1983 and by March 1984, Toyota's tie-up with Delta Motor Corporation was terminated.

[citation needed] When Toyota Motor Corporation president Shoichiro Toyoda came looking for a new partner in the Philippines, he sought out Dr. George S. K. Ty, and on August 3, 1988, TMPC was incorporated as a joint-venture among Metrobank, Toyota Motor Corporation and Mitsui & Co.[citation needed] In 1994, TMPC captured its first "Triple Crown": No.1 in Total Sales, Passenger Car Sales and Commercial Vehicle Sales.

[citation needed] The Bicutan Assembly Plant was closed in 2005 and all production was moved to Santa Rosa, Laguna.