biography
| sex:
| male
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| lived:
| (1864–1950)
|
| biography:
| Automobile manufacturer, born in Geneva, Ohio, USA. His father opened a machine shop in Lansing, MI in which he became a partner (1885), and he developed an internal combustion engine that he incorporated into a car. In 1897 he opened the Olds Motor Vehicle Co and the Olds Gasoline Engine Works (replacing his father's shop). The vehicle company sputtered, but the engine company succeeded. He moved to Detroit (1899), formed the Olds Motor Works, and designed and produced the popular Oldsmobile. With its low price, easy assembly, and stylish curved dashboard, this was the first car to be produced in quantity. When his backer wanted a more expensive car, Olds quit to form Reo Motor Car Co and organized subsidiary companies to supply him with parts. In 1915, after a softening in the car market, he formed the Ideal Power Lawn Mower Co to manufacture his newest invention. He dabbled in securities and real estate, particularly a Florida planned community, the unsuccessful Oldsmar (1916). A Baptist, his philanthropies included establishing an interdenominational home for retired ministers in Daytona Beach, FL. |
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