Complex sentence: Later that year he founded the Olds Motor Vehicle Company, which became the Oldsmobile division of General Motors in 1908, and he was also the founder of the REO Motor Car Company in 1904, both headquartered in Lansing.
Split into simpler sentences: Later that year he founds the Olds Motor Vehicle Company, which would become the Oldsmobile division of General Motors in 1908. He was also the founder of the REO Motor Car Company in 1904, both headquartered in Lansing.