![](/images/wp-content/uploads/2019/10/Blog-1208x720-51-1024x576.jpg)
![](/images/wp-content/uploads/2019/10/Blog-1208x720-52-1024x576.jpg)
![](/images/wp-content/uploads/2019/10/Blog-1208x720-53-1024x576.jpg)
The Birth of the Automobile
What was it like in the beginning? What type of companies were born when automobiles were introduced over 100 years ago? When we looked back at the first automobile companies that issued stock in the United States, we found an unexpected surprise, all of the first automobile companies that issued stock in the 1800s were electric automobile companies! Gasoline-powered cars didn’t appear until the 1900s. Tesla is bringing back an old tradition, not introducing a revolutionary change. The first automobile companies to issue stock raised their money at the end of the 1800s. The General Electric Automobile Co. issued stock in 1898, the Electric Vehicle Co., the New England Electric Vehicle Transportation Co. and the Pennsylvania Electric Vehicle Co. issued stock in 1899. In fact, electric autos outsold steam and gasoline-powered cars in 1899 and in 1900. Although we may not realize it, electric automobiles were the preferred means of transportation in the first decade of automobiles. Not only were electric ca
It wasn’t for a lack of ambition that the electric car failed. The New England Electric Vehicle Transportation Co. not only produced electric automobiles but provided a taxi service in Boston; however, the company only lasted from 1899 to 1901. The American Electric Vehicle Co. started out in Chicago, produced eleven different automobiles (see the ad above), and moved to New Jersey to be closer to wealthy customers, but failed in 1902.
It wasn’t for a lack of ambition. The Electric Vehicle Co. was founded in 1897 and as other electric vehicle manufacturers went bankrupt, it took over their factories. The company took control of the Motor Vehicle Co. of Elizabeth, NJ, the Pope Manufacturing Co., the Columbia Automobile Co. and the Columbia Electric Vehicle Co. of Hartford, NJ, but went into receivership on December 10, 1907. The company issued over $10 million in common stock, over $8 million in preferred and paid 8% in dividends on the common and preferred in 1899, but as profits failed to materialize, the stock price collapsed.
The Rebirth of the Electric Car
With the rising price of oil in the 2000s and the demand for a more environmentally-friendly automobile, every auto company is striving to create an electric car that can replace gasoline-powered vehicles. Today, electric cars and self-driving cars appear to be the wave of the future. Tesla as a company is worth almost as much as General Motors even though it produces a fraction of the number of cars General Motors produces. Tesla is now producing its Model 3 in an attempt to produce an affordable electric vehicle that the average person can afford. Will Tesla succeed, or will Tesla go the way of the earliest electric car companies ending up in bankruptcy? Only time will tell.![](/images/wp-content/uploads/2019/10/Blog-1208x720-54-1024x576.jpg)
- The S&P Composite back to 1925 (90 stocks to 1957 and 500 thereafter)
- United States companies listed in the United States back to 1801
- All companies listed on United States exchanges back to 1801
- United Kingdom companies listed in London back to 1694
- All companies listed on the London stock Exchange back to 1693
- All companies listed in the US, UK and other countries that are in the GFD Microverse back to 1692