The Studebaker brothers, Henry and Clem, established a wagon shop in South Bend, Indiana, in 1852 with a total capital of just $68.00. Migration to the western territories, the Indian Wars, and orders from settlers and the U.S. Army for covered wagons brought them great success; the company was grossing $350,000.00 annually by 1867. Joined later by three more brothers, Studebaker offered its first electric vehicle in 1902 and its first gasoline-powered car by 1904.
