The Edsel was to be the intermediate line of cars between low-priced Ford and upper-end Mercury. Chassis, drivetrain, and bodyshell were shared with other models, but the Edsel had it's own unique styling and was marketed as it's own division under Ford Motor Company. The horse collar shaped grille appeared for the first two years of production.
With less than 85,000 cars sold in three years, Ford lost millions of dollars it had invested in the car's research and development, forever marking the Edsel as one of America's most famous marketing disasters.
Source: classiccarhistory.com