The success of the Woods Motor Vehicle Company of Chicago, IL. was nearly guaranteed as it began with an infusion of $10 million in capital stock. Formed in early 1899, backers included Samuel Insull of Chicago and August Belmont of New York, plus several individuals from Toronto and the Standard Oil company. Although automobile production was still in its infancy, nearly forty percent of the market relied on batteries for its power. The other fuel sources included steam and gasoline, but both fell short of the benefits offered by Electric vehicles, which were easy to operate, clean, and quiet. The tables turned several years later with the introduction of the electric starter.
With plenty of resources, Clinton E. Woods patents were acquired and Woods was hired as superintendent of the new company. Mr. Woods remained with the company for only a short period of time, leaving and building cars under his own name (Clinton E. Woods) by 1901.
The Woods Company had started with solid financial footing and was led by one of the most experienced individuals in the industry, but its success was temporary. They built approximately 6 vehicles in 1899 and 12 the following year. In 1901, the Woods company filed for bankruptcy. In July of 1902, Jay Dixon Chappell took over the company, and in 1905 Louis Burr became President, the same year a new plant was constructed that could accommodate much higher production. Burr, previously associated with Kimball, and Chappell were instrumental in modernizing the Woods and giving them designs that were more conventional than standard motorcars. Prior to this, Woods had their motors mounted on the rear axle, and body styles were more similar to carriages than motorcars. Larger rear-entrance tonneau models followed, with batteries installed under the front hood, with the two individually connected 2.5 horsepower motors connected to a four-speed transmission. Gasoline and gas-electric cars were offered from 1905 through 1907, however, they returned to electric power in 1908 as the sole means of power. They did experiment with gas-electric vehicles in the mid-1910s as the popularity of gasoline-powered vehicles skyrocketed. The prototype, called the Woods Dual Power, rested on a 105-inch wheelbase platform and was initially powered by a four-cylinder gasoline engine built by Woods. When traveling at speeds below 15 mph, the gasoline engine idled while the electric motor provided the power.
The Woods Electric Company remained in business through 1918. Their highest levels of production had been achieved in 1912 when 1,306 had been built. Their exclusivity was attributed to their cost, as their price tags often hovered in the $3,000 range.
Woods built 628 vehicles in 1918, yet had orders for an additional 1,300 vehicles. The company had popularity, experience, and craftsmanship but lacked sustainability in an increasingly competitive market.
The Woods Electric vehicles of 1912 included the Model 1316 Extension Brougham resting on a 90-inch wheelbase and priced at $3,000, the same cost as the Rear Drive Pony Limousine (Model 1324) on a 92-inch wheelbase. The 92-inch platform was shared with the Model 1325 Vis-a-Vis Brougham priced at $2,900, the Model 1320 Roadster ($2,400), the Model 1321 Brougham ($2,700), and the Model 1323 Front Drive Pony Limousine ($3,100). The Model 1317 Extension Brougham also had a 92-inch wheelbase and was priced at $2,500. The Model 1318 Limousine was the most expensive at $4,000. The Model 1322 had a 102-inch wheelbase, priced at $3,600, and was offered as a Brougham.
by Dan Vaughan