Horace and John Dodge founded Dodge Brothers Company in 1900, and started out building engines and other components for Ford and Olds. By 1914 they had produced their first vehicle - the Dodge Model 30. Essentially an upscale variant of the Model T, the Model 30 proved quite successful, and Ford responded by terminating Dodge’s contracts. The brothers sued, and won $25 million from Ford in 1919, by which time Dodge was the second largest vehicle manufacturer in the United States. Unfortunately tragedy would strike early in 1920, as John Dodge was killed by pneumonia in January, and Horace would pass away later in the year from cirrhosis… though many said it was grief that felled the younger Dodge.
Meanwhile, Walter P. Chrysler had reorganized the struggling Maxwell Motor Company into the Chrysler Corporation, introducing an advanced six cylinder auto that proved quite popular, and by 1924 Chrysler was looking to expand and began purchasing rival companies. In July 1928, Chrysler would obtain Dodge in exchange for 170$ million worth of stocks.
Chrysler was at its best during the 60s, when the muscle car and pony car movements were exemplified by autos such as the Charger, Barracuda, Road Runner, and GTX. However the fuel crisis of the 70s would put an end to all that, and Chrysler soon found itself on the brink of bankruptcy, bogged down by aging production facilities and outdated designs. In 1979 Chrysler chairman Lee Iococca would secure a 1.5 billion dollar bailout from the US government which saved the company (Chrysler had repaid the loan by 1983).
The 80s and 90s were a time of revival for Chrysler, the peak of this was the 1992 introduction of the Dodge Viper - a 500hp V10 sportscar with throwback styling that would immediately set to dominating the racing world. Some of the Viper’s many victories include ten FIA GT Championships, six 24 Hours of Nürburgring championships, and three 24 Hours of Le Mans championships including a 1st, 2nd, 3rd, 4th, 5th, and 6th place finish in 1999. The Dodge Viper SRT-10 ACR also holds the fastest lap by a production car on Nürburgring - 7:22.1, more than two seconds faster than second place.
Chrysler has been a very troubled company for the last few years, culminating in a Dec 17, 2008 shutdown of all manufacturing facilities in North America due to lack of funds. However, on June 1st 2009, Judge Arthur J. Gonzalez allowed the sale of 20% of Chrysler to Italian automaker Fiat. With a union retiree trust owning 55 percent, Fiat holding a 20 percent share that could eventually grow to 35 percent, and the United States and Canadian governments owning minority stakes, the company that gave us the 12 volt battery, all steel frames, and the minivan is not done yet.