Nelly Toledo Maldonado was born in Arecibo, Puerto Rico. She earned a bachelor's degree in fine arts at the University of Puerto Rico, Río Piedras, a master 's degree in industrial design from Wayne State University, and an MBA from the prestigious Michigan State University's Executive Development Program. She also holds a postgraduate certificate in humanities and philosophy from the Autonomous University of Mexico.

In 1977, she was hired by General Motors, to work in the interior design of cars such as Chevrolet, Camaro, Corvette, Saturn, Cadillac and Riviera.  

While participating in international industrial design congresses, she co-founded, with a group Latin American designers, the Association of Latin American Industrial Designers, an active organization. Alongside her work as an automobile designer, Toledo began to study metals and to work in jewelry design and small format sculptures, in the workshop of the renowned metalsmith Phillip Fike. In addition, she participated in the Michigan Fine Arts Competition, and won several honorary mentions for her objects/tridimensional sculptures.  

In 1987, Toledo joined the Ford Motor Company. Her first great contribution to that firm was the design of the Aerostar minivan. During her time at Ford, she was a member of the management group and participated in several committees, among them the Marketing Committee for Women and Hispanic groups. At the time, Nelly went back to painting as her mode of expression. She developed a series of photorealistic paintings and took part in collective, state and local shows.

In 1997, she returned to Puerto Rico, where she continues to work as an artist and consultant, and holds the position of manager of the School of Plastic Arts. In 2002, continuing her interest in the development of the industrial design profession in Puerto Rico, she founded, and still directs, the first and only academic program of industrial design in the island.