Of the $26 million, $10 million will come from Ford Motor Co., $6 million from Chrysler Group LLC, $5 million from General Motors Co. and $5 million from the General Motors Foundation.
Good weather and a strong Memorial Day weekend helped car buyers ignore reports of recalls, pushing car and truck sales up more than ten percent in May.
GM is on track to break the American automaker record for the most recalls in a single year, ever.
The recalls cover vehicles from the 2013 and 2014 model years.
GM, Ford and Toyota are joining the University of Michigan in establishing a testing site for driverless cars that will simulate a cityscape.
The truck, which will be 700 pounds lighter than the current version, could get close to 30 miles per gallon of gas on the highway, far better than its competition.
“I suppose this is not a terribly well-kept secret,” said executive chairman Bill Ford, in announcing the changes to Ford workers Thursday.
Ford Motor Company has officially announced that current CEO Alan Mulally will be replaced by Mark Fields come July.
Ford earned $989 million in the first quarter, below analyst expectations.
Ford held celebrations in a number of locations, including Las Vegas, Melbourne, Beijing and at the company’s headquarters in Dearborn.