He once won back the market's trust by building a race car

Ford decided to sell the Quadricycle to continue creating additional cars because he was determined to enhance his prototype. Over the following seven years, Ford was successful in securing the financial support of twelve investors, including timber magnate William H. Murphy and Detroit mayor William Maybury. Henry Ford founded the Detroit Automobile Company on August 5, 1899. However, due to their poor quality and exorbitant cost, the resulting cars were a far cry from what Ford had in mind. Ford was compelled to terminate the firm by January 1901 when it failed.

Only 20 automobiles could be produced overall throughout its existence, and around $86000 in investments or $2.61 million in 2019 were wasted. One of the interesting facts about Henry Ford to note is that in October 1901, Ford created, built, and raced a 26-horsepower car to win back the confidence of investors. Murphy and other investors from the former business came together on November 30, 1901, after seeing this accomplishment, to create the Henry Ford Company. Ford quit his eponymous firm in 1902 when his partners, anxious to release a passenger automobile on the market, got impatient with his relentless pursuit of improvement. After he left, it underwent a reorganization to become the Cadillac Motor Car Company.