Louis Chevrolet
Also in 1916, American Motors Corporation (unrelated to the later American Motors created by the 1954 merger of Nash-Kelvinator Corporation and Hudson Motor Car Company) was formed in Newark, New Jersey, with Louis Chevrolet as vice president and chief engineer. By 1918 it was producing cars in a plant at Plainfield, New Jersey. In 1923 it merged with the Bessemer Motor Truck Company of Pennsylvania into Bessemer-American Motors Corporation, which lasted less than a year before merging with the Winther and Northway companies into Amalgamated Motors. The latter company apparently ceased soon after.
American Motors Corporation
In early 1980, the banks refused AMC further credit. Lacking both capital and resources for the new, truly modern products it needed to offer, the company turned to Renault for a $90 million loan (US$ in dollars). By September that year, AMC's U.S. market share had fallen to 1.7%, and in November sales dropped 19.1%. AMC warned stockholders that the company could be bankrupted if they did not approve a plan for Renault to acquire as much as 59% of the company. On December 16, 1980, AMC shareholders "overwhelmingly approved making the French Government-owned Renault" their company's principal owner.