On this day in 1954 General Motors announced a $1 billion investment into the expansion of their auto industry. GM was founded in 1908 as a holding company and quickly acquired brands such as Oldsmobile, Oakland, and others, including Chevrolet in 1916. The growth helped GM become the largest automotive business in terms of in the early part of the century. Their 1954 investment was geared toward overall expansion of their numerous brands, including Cadillac, Chevrolet, and Buick. Their investments led to some models that are cherished through the ages including the Tri-Five Chevrolets.