This is a good sign when the shorts run away. They smell good things in the future about a stock. In this case it is Ford. For an auto company Debt vs Cash on hand has no relationship to a companies earnings power.
All manufacturing companies have large debt on their books for their many facilities.
Many of these facilities are worth many times the debt held on their books.
Don't put any weight in the short interest. % of float was already pretty low on a relative basis. Has little to no influence with such already low %. Still, JMO, Ford taps bottom end of channel at or below $12 before much upside move.
Short term: sell OR hold and close eyes for month or two
Long term: buy with both fists