2 May

General Motors acquires the Chevrolet Motor Company of Delaware as part of a reverse merger on this day in 1918.

Louis Chevrolet and ousted General Motors founder William C. Durant started the company on 3 November 1911 as the Chevrolet Motor Car Company. Durant used the Chevrolet Motor Car Company to acquire a controlling stake in General Motors with a reverse merger occurring on 2 May 1918 and propelled himself back to the GM presidency. After Durant’s second ousting in 1919, Alfred Sloan, with his maxim “a car for every purse and purpose,” would pick the Chevrolet brand to become the volume leader in the General Motors family, selling mainstream vehicles to compete with Henry Ford’s Model T in 1919 and overtaking Ford as the best-selling car in the United States by 1929.