Ford Motor Company Fund has announced that it will award $1 million (Rs 6.13 crore) in automotive design scholarships during the next 20 years to commemorate the late William Clay Ford’s contributions to the design legacy of Ford Motor Company.

Throughout his 57 years as an employee and board member, Mr Ford, who passed away earlier this month, was instrumental in setting the company’s design direction, overseeing development of a number of classic vehicles, including the iconic Lincoln Continental Mark II. He served as chairman of the design committee at Ford for 32 years.

“Design was Mr Ford’s passion, and his creative vision transformed vehicle design at Ford,” said Jim Vella, president, Ford Motor Company Fund and Community Services. “We are honoring William Clay Ford’s legacy by encouraging and supporting the next generation of innovative automotive designers through this scholarship.”

The grant will be paid at the rate of $50,000 per year during the next 20 years, awarding five $10,000 scholarships annually to outstanding college sophomores or juniors pursuing a degree in automotive design. Ford has said that details of the program will be announced in the coming months.