Mechanical Engineer Henry G Morris and Chemist Pedro G Salom (in pic) created the world's first successful electric car, in 1894.
In 1896 , they founded the Electric Carriage and Wagon Company to manufacture and supply electric cars for the New York Taxi so as to replace all the horse-drawn taxis of that time.
In 1899, sensing possible success of electric mobility over Gasoline and Steam, Isaac L Rice of Electric Storage Battery Company bought over the Electric Carriage and Wagon company and renamed the merged entity as Electric Vehicle Company. The EVC sold about hundred vehicles to the New York Taxi fleet.
This attracted the attention of few businessmen who sensed an opportunity to monopolize the electric car business and acquired Electric vehicle company and merged it with Albert Pope's Columbia Automobile Company to form Columbia and Electric Vehicle Company (later renamed back as Electric Vehicle Company). To further strengthen their position , in 1901 , they acquired Riker Electric Motor Vehicle Company. They sold about 2000 electric cabs.
During this period , the electric , steam and gasoline cars sold one-third each and from then on steam cars and electric cars started losing traction, the former due to complexity and latter due to battery/range/weight related concerns.
To shore up for the future , the Electric Vehicle company had bought the famous Selden Patent in 1899 , which requires all Gasoline engined automobile manufacturers to pay a royalty of 1.25% (later 0.8%) to EVC. As the revenues from electric cars started to dwindle, the revenues from royalties helped them. However, the Selden patent was challenged by Henry Ford and Thomas Jeffery which led to its overthrow in 1911 after a protracted legal battle.
The Electric Vehicle Company became part of United States Motor Company by 1910, which ultimately evolved in to Chrysler.