This was a successor to the GT40 and the Wyer Mirages. It was built around the world champion Cosworth DF series V8 from Formula One. There was something about the politics at Ford that caused it to be shelved before even being developed, but there was also an unsubstantiated rumor it was evil handling, or aerodynamically unstable.
Perhaps the issue that made the Porsche 956 become the 962 afflicted this car. That was a rule that made the pedal box have to be behind the wheel centerline for driver survivability.