Ford's global CEO unveils Ford Figo in Delhi

Ford Motor's global CEO Alan Mulally today introduced the auto giant's new four-door hatchback, the new Ford Figo, to be produced in India.

The new Figo, colloquial Italian for ''cool,'' and a major addition to the Ford India brand portfolio, was unveiled at a bress briefing in Delhi, where Mulally said the new Ford Figo had been designed and engineered to compete in the Indian car market.

The  event marked the first public preview of the exterior design of Ford's new small car. Ford is reserving further details about the vehicle until closer to its production launch early in 2010.

However, Mulally's visit to introduce the introduce the vehicle personally, at a juncture when most US carmakers have been hit hard by the economic downturn, underscores the strategic importance that Ford attaches to the Indian market for it's future plans.

''Our exciting new Ford Figo shows how serious we are about India,'' Mulally said. ''It reflects our commitment to compete with great products in all segments of this car market. We are confident the Ford Figo will be a product that Indian consumers really want and value.''

The small car will be manufactured at Ford's expanded integrated manufacturing facility near Chennai, which is undergoing a $500-million makeover to become a regional export hub for, what the company calls an "eco-friendly volume production".