In Thailand, TMC established Toyota Motor Thailand Co., Ltd. (TMT), an assembly company, in 1962, and Toyota Auto Body Thailand Co., Ltd., a stamped parts company, in 1978. Later, Siam Toyota Manufacturing Co. Ltd. (STM) was established as an engine production joint venture company in 1987, and production started in 1989. STM was a project conducted in cooperation with competitor companies with the objective of localizing the production of engines for small trucks. In 1988, Toyota Auto Body Co., Ltd., with TMT and others, established a joint venture mainly for truck customization.