The Ford Motor Company has announced a new scholarship at University College Cork (UCC).

The announcement was made by the executive chairman of the car-maker - and great-grandson of Henry Ford - William Clay Ford, Jr.

The Ford Centenary Quercus Scholarship has been set up to commemorate 100 years of Ford in Ireland.

The programme will target students who show outstanding promise in the areas of active citizenship, innovation and entrepreneurship.

It will run for five years, beginning with the 2017-18 academic year until 2022.

Over the five year period, the programme will help approximately 50 students.

Left to right: Ciaran McMahon, managing director and chairman, Ford Ireland, Prof Patrick G O'Shea, President of UCC, William Clay Ford Jr, executive chairman, Ford Motor Company, and Prof John O'Halloran, director of Quercus Student Talent Programme | Image: John Sheehan

“With both deep personal and business connections to Ireland, I am delighted to celebrate not only 100 years of Ford in Ireland this week, but also to support the advancement of talented students at UCC with this new scholarship programme,” William Clay Ford, Jr told an audience at UCC.

“While we have a lot to celebrate about our past, I’m especially excited that this scholarship provides the opportunity for us to support a new generation of innovators and leaders that can help shape the future for the next 100 years.”

Following the announcement of the programme, Mr Ford received an honorary Doctorate of Economic Science from UCC and the National University of Ireland (NUI).

A plaque and bench in Ballinascarthy commemorate the decedents of Henry Ford | Images via @FordIreland on Twitter

April 17th marked exactly 100 years since Henry Ford established Henry Ford & Son Limited on the Marina in Cork, his ancestral home city.

It also kicked off a week-long series of activity with William Clay Ford, Jr in Cork to participate in a number of commemorative events.

This included a visit back to the ancestral home of the Ford family in Ballinascarthy, the unveiling of a plaque, and an event recognising the contributions of Henry Ford at a civic reception hosted by Cork City Lord Mayor Des Cahill.