James Ward Packard organized the Packard Electric Company in 1890. By 1893 Packard had drawn the plans for his first auto, but financial difficulties delayed its production until 1899. After experiments with the initial car proved successful, Packard in 1900 organized New York and Ohio Automobile Co. With increased capital, the company moved to Detroit in 1903 and became Packard Motor Company. Mr. Packard, prior to this time president, became chairman of the board, a post which he held until retiring in 1915.