This Day in History - Ransom Eli Olds born, 1864

While many an engineer and machinist can lay claim to having built the first automobile in the latter decades of the 19th century, bringing the automobile to mass production fell to one man - machinist, accountant, inventor and entrepreneur Ransom Eli Olds, who was born 150 years ago today.

Originally from the Cleveland area, Olds would later move to Lansing, Michigan, but his lifelong interest in machinery had already been set in Ohio. It was his idea to refocus the family's repair business to manufacture gasoline-heated steam engines, which proved to be a huge financial success. His inquisitive mind led him to construct a "self-propelled carriage," but the self-critical Olds was dissatisfied with the initial result. His second effort corrected the mistakes made on his first attempt and drew the attention of Scientific American magazine, as noted by Special Interest Autos in issue 186. In describing the benefits of his latest horseless carriage, Olds summed it up by saying, "It never kicks or bites, nor tires on long runs. It doesn't require care in the stable and only eats when it's on the road, which is no more than at the rate of one cent per mile."

Olds at the wheel of his Pirate racing car in 1896 or 1897.

Olds founded the Olds Motor Vehicle Company in Lansing, Michigan, in 1897, and just two years later the business was sold to investor Samuel L. Smith. By 1901, Olds had built vehicles powered by steam, electricity, and gasoline, but it was the internal-combustion propelled Curved Dash Olds that would enter mass production. Using an assembly line (before Henry Ford) to maximize efficiency, Olds increased production of his Curved Dash model from 425 units in 1901 to 5,508 units by the end of 1904.

Struggles with company owner Smith forced Olds to leave the business in 1904, prompting him to start a second company bearing his name. The R.E. Olds Company immediately began producing automobiles under the REO name, and by 1907, only Ford and Buick enjoyed higher annual sales. Though Olds reportedly hated trucks, it was commercial vehicles that would carry REO through the depths of the Great Depression and ensure the company's later prosperity.

By 1937, Olds had had enough of the automotive business, and at age 73 stepped down from his company's board of directors. Other ventures beckoned, including the Oldsmar Hotel, a home for retired ministers of all faiths established by Olds in Florida. Though the automotive industry lacked his presence, it did not lack his influence, and the contributions made by the man often referred to as "The Great Teacher" continue to have an impact today. Olds died in 1950 at the age of 86.