Mitsubishi was founded in 1870 by Iwasaki Yataro and originally produced textile looms for the Japanese market. In 1934, Mitsubishi Heavy Industries (MHI) started building aircraft for the Japanese military, and it wasn't until 1960 that the company began producing vehicles for the public. The first vehicles were trucks and buses, followed by the Mitsubishi 500, the company's first passenger car. In 1962, MHI established Mitsubishi Motors (MM), and the first Mitsubishi-branded car was launched in 1964. Since then, Mitsubishi has become known for producing a variety of vehicle types, including sports cars, SUVs, and pickups. Today, Mitsubishi is a subsidiary of Nissan and together they make up the Renault-Nissan-Mitsubishi Alliance.