Ford Motor stated on Wednesday it will launch in China early 2019 a new “entry-level” sport utility vehicle developed jointly with a regional partner, as the U.S. automaker tries to revive its sales in the world’s biggest auto market.
The Ford Territory, developed with Jiangling Motors and available in three powertrain choices consisting of a plug-in hybrid version, is meant to close a gap in its China strategy.
The new SUV is one of the 50 new or redesigned automobiles Ford has stated it plans to release in China starting this year and through 2025, which consists the redesigned Ford Focus car due to hit showrooms in 2018.
It will make it possible for the automaker to compete with indigenous Chinese automakers including Geely and Great Wall Motor that are pumping out hot-selling compact SUVs with competitive quality and lower price.
Ford did not discuss on Wednesday a specific pricing strategy for the Territory, but two individuals knowledgeable about the new car stated it will likely have a price tag of about 150,000 yuan ($21,990.27).
The car puts the company in a sector it has never competed in before and which is observing surging demand from smaller, but fast-growing interior cities across the country that indigenous Chinese automakers have capitalized on to increase rapidly.