(2 of 2)
Actually, Ford will not lose its entire investment. Of the total, $100 million went for production facilities, which will be used to produce Ford's second entry into the compact-car field next spring. As a running mate for the Falcon, Ford plans a slightly larger, more luxurious compact model that it originally thought of calling the Edsel Comet. Now the new car will just be called the Comet.
As the Edsel died, Ford got ready to put more pep into the Ford line. Next month Ford will begin deliveries of a 360-h.p. engine that is topped among U.S. stock cars only by the 380 h.p. in the Chrysler 3OO-E. Ford's aim is to outdo both Plymouth (330-h.p. top) and Chevrolet (335-h.p. top) with its new engine.