Ransom E. Olds

Ransom Eli Olds (June 3, 1864–August 26, 1950) was a pioneer of American automobile industry. He claimed to have built his first steam car as early as 1894 and his first petrol car in 1896.

Related Topics:
June 3 - 1864 - August 26 - 1950 - Automobile industry - Steam car - 1894 - 1896

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He founded the Olds Motor Vehicle Company in Lansing, Michigan on August 21, 1897. The company was bought by a copper and lumber magnate named Samuel L. Smith in 1899 and renamed Olds Motor Works. The new company was relocated from Lansing to Detroit. Smith became president while Ransom became vice president and general manager.

Related Topics:
Lansing, Michigan - August 21 - 1897 - Samuel L. Smith - 1899 - Olds Motor Works

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In 1901 Ransom designed the Curved Dash Oldsmobile which sold for $650. Although the factory was destroyed by fire that year, they still sold over 600 models of the Curved Dash. In 1904 sales were up to 5000 units.

Related Topics:
1901 - Curved Dash - 1904

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Ransom and Smith clashed frequently until Smith removed Ransom from the position of vice president and general manager in 1904 and Ransom E. Olds left his company. He went on to form the R.E. Olds Motor Car Company which was quickly changed to REO Motor Company to avoid a lawsuit from the Olds Motor Works. The name REO came from the initials of his name as an acronym. Ransom served as president (until 1925) and later chairman of REO.

Related Topics:
1904 - REO - Acronym

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The Olds Motor Works company was bought by General Motors in 1908 and formed the basis of the Oldsmobile. Thereafter, Ransom E. Olds had nothing to do with General Motors. The Oldsmobile brand, after a successful production run of 99 years, was discontinued by General Motors in 2004.

Related Topics:
General Motors - 1908 - Oldsmobile - 2004

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In 1913, Olds purchased 37,541 acres (152 km²) of land by the northern part of Tampa Bay in Florida and developed the area into what is now the city of Oldsmar.

Related Topics:
1913 - Tampa Bay - Florida - Oldsmar

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Interstate 496 in Lansing, Michigan is named after him.

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