The Olds Motor Vehicle Company of Lansing, Michigan, was founded by Ransom Eli Olds on 21 August 1897. His automobile company was the first in Michigan organized solely for manufacturing and selling motor vehicles. By 1903 Olds was a bit of a veteran in the burgeoning automobile industry. He tested his first car, a steamer, in 1887, and a gasoline-fueled car soon followed. The Olds Motor Vehicle Works was capitalized in 1899 by a wealthy lumber merchant, Samuel L. Smith, while Olds himself set about the development of several different models, including electric vehicles. Source: https://rmsothebys.com/en/auctions/hf19/hershey/lots/r0003-1902-oldsmobile-model-r-curved-dash-runabout/737971