Ransom E. Olds

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Ransom Eli Olds (June 3, 1864 – August 26, 1950) was a pioneer of the American automobile industry, after whom the Oldsmobile and REO brands were named.

He built his first steam car in 1887 and his first gasoline-powered vehicle in 1896.

The modern assembly line and its basic idea are credited to Olds, who manufactured the first mass-produced automobile, the Oldsmobile Curved Dash, beginning in 1901.

Early life

Olds was born in Geneva, Ohio, the youngest son of blacksmith and pattern-maker Pliny Fiske Olds and his partner, Sarah Whipple Olds, was born. As a child, his parents moved the family to Cleveland, Ohio. He later settled in Lansing, Michigan, where he attended high school before dropping out in order to work full time at the family business, P.F. Olds & Son is a.k.a. The company produced and sold some steam engines, but the bulk of its income was spent on repair work. While in Lansing, he met Metta Ursula Woodward on June 5, 1889.

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Career

On August 21, 1897, he founded the Olds Motor Vehicle Company in Lansing, Michigan. Samuel L. Smith, a copper and lumber magnate, bought the business in 1899 and renamed Olds Motor Works. Lansing's company was relocated to Detroit, Michigan. Smith was president when Olds became vice president and general manager, while Olds became vice president and general manager.

Olds had produced 11 prototypes by 1901, including at least one of each power mode: steam, electricity, and gasoline. He received a diesel engine patent in 1934. He was the first American auto pioneer to produce and sell at least one of each mode of vehicle.

The Olds Motor Works factory burned to the ground on March 9, 1901. Only one model, the little Curved Dash runabout, was saved from the fires. Ransom Olds said it was the fire that made him choose the runabout from among his many other models to go into production. His biographer doubts the veracity of this tale. He refers to an Olds advertising campaign that has resulted in more than 300 Curved Dash orders well before the fire was fired. "Olds didn't need the one rescued car from which to reconstruct the plans and patterns for the runabout."

Olds' test driver, Roy Chapin, helped with a Curved Dash runabout to the second annual New York Automobile Show later this year. Chapin took the Erie Canal tow path across the highway to escape the smog of New York state highways along the way. He arrived in the Waldorf Astoria hotel after eight days of driving but was turned away at the door. His mud-spattered clothing was so bad that he was forced to the servants' entrance in back.

Olds continued to make sales during the auto show. When one dealer offered to buy 500, Olds replied, "I would like to see you make this order for a thousand cars." Then the nation will notice and pay attention." Although the dealer ended up selling only 750 copies to the public, it was the first number that everyone remembered.

The Curved Dash Oldsmobile cost $650, or $21,172 today, up from $21,172. About 600 units were sold in 1901, about 3,000 in 1902 and at least 4,000 in 1904. This car, rather than Henry Ford's Model T, was the first mass-produced, low-priced American motor vehicle.

Frederic L. Smith, Smith's uncle, fought often with the Olds until Fred Smith was fired from his role as vice president and general manager in 1904, and Olds left his company. He went on to establish the R.E. Olds Motor Car Company. To prevent a lawsuit from the Olds Motor Works, the company's name was quickly changed to REO Motor Car Company. The name REO came from his initials, but it was supposed to be an acronym and thus pronounced as a word. Reo was sometimes spelled out to emphasize this word. Olds served as president (until 1925) and then chairman of REO. The band REO Speedwagon derived their name from the REO Speed Wagon light delivery truck, the ancestor of pickup trucks, but the band claims REO is a mark rather than a letter (pronouncing it as a number).

GM bought the Olds Motor Works in 1908. After a 107-year run, GM discontinued the Oldsmobile brand in 2004.

As the Lawn Mower Division of REO motors, Ransom Olds began building lawnmowers in 1946.

Olds was the first person to use a static assembly line in the automotive industry. Henry Ford came after him, and he was the first to manufacture cars on a moving assembly line. Olds saw his factory's output rise from 425 cars in 1901 to 2,500 in 1902.

Oldsmar began purchasing 37,547 acres (152 km2) of land in Tampa Bay, Florida's northern area, and turned the area into what is now Oldsmar's city. In 1926, he exchanged his property for the Fort Harrison Hotel in Clearwater, Florida.

Olds founded the Capital National Bank, later known as Lansing National Bank, and Michigan National Bank in 1906. Olds was also involved in the establishment of the Michigan Screw Company and Atlas Drop Forge Company, both located in Lansing, Michigan.

The Olds Tower's primary financier was Olds. When it was completed in 1931, it was Lansing's tallest office building and it holds that rank today. The Boji Tower, which is headquartered at 124 West Allegan Street, is now called the Boji Tower.

At 111 South Capitol Avenue in Lansing, the Olds was also interested in the Hotel Olds. The George W. Romney Building, where the governor of Michigan's office is located, is located today.

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