That code indicates a bad crank sensor. However, that isn't always the case. I would start with replacing the crank sensor, but it that doesn't work, there is a TSB that Ford put out some time ago. It relates to a bad wiring harness that involves the alt. Here is the TSB information:
http://ww2.justanswer.com/uploads/eppic60/2007-03-18_112203_tsb04-14-09.pdf
If the crank sensor doesn't solve the issue, you may need to order the wiring harness. The way they laid it out, it rubs against other components. Consequently, the insulation is rubbed through and shorts out causing the engine to die.
Check it out and let me know what you find.
Joe
Jan 1, 2011 at 1:48 PM
