The LiteAce was developed by Toyota Auto Body, a Toyota's subcontracting subsidiary. Toyota released the first generation LiteAce M10 truck in November 1970 as a larger, upscale model line to sit above the MiniAce that had been introduced in 1967. In effect, LiteAce filled the gap between the smaller MiniAce and larger HiAce whilst keeping within Japanese vehicle size regulations concerning exterior dimensions and engine displacement. This meant that buyers would not be liable for additional taxes for a larger vehicle as they were with the HiAce. LiteAce had also been developed following the growing popularity of affordable cab-over-engine trucks that could carry up to . Whereas the MiniAce truck had just a payload capacity, the LiteAce truck offered with a three-seat front bench. The cargo bed was available in high- or low-deck.