Ford Motor Co. said on Wednesday that it will launch an all-new midsize sports utility vehicle (SUV) line in China with its Chinese joint venture partner, Jiangling Motors Corporation, in the hope to penetrate the world's fastest-growing auto market.
According to The Globe and Mail, the new midsize SUV line will be called Territory and it is expected to arrive in display centers with a much lower price, as compared to most of the Ford or Lincoln autos currently sold in China. Its target buyers are those outside of China's metropolitan cities.
The Ford Territory is slated to launch early 2019 and will be available in various choices, with the standard gasoline-powered version included, a report from CNET said. In addition to the conventional drivetrain, Territory will also come in 48-volt mild hybrid and plug-in hybrid variants.
As pointed out by CNET's initial review of the product, the exteriors of the Territory to have a close resemblance to Ford's popular EcoSport line. What differs is the interior which, according to the outlet, comes at par with that of Lincoln's in terms of the luxurious design.
Jim Farley, Ford's chief global marketing officer, said in an interview that the new line certainly is a "very important product" for the company, with the investors, stakeholders, employees, and dealers, included.
Farley emphasized that designing Territory has the Chinese consumers in mind.
"...this is a completely indigenous product. It is not derived from a Ford product elsewhere. It was developed by our local partners. This is not a One Ford product. This is a China-only product," the Ford executive said in an interview.
Developed in partnership with Jiangling Motors Corp., the new SUVs will be manufactured at a factory in Xiao Lan, in the city of Zhongshan, Guangdong Province, China.
Meanwhile, the Territory will just be the first of the Ford vehicle to launch exclusively in China. As announced by the Dearborn-based automaker, the company plans to introduce 50 new vehicles to the Chinese automotive market by 2025.
"China is fundamental to Ford's future," Farley added. "It's not only fast-growing, but it's incredibly diverse and an incredibly important market."
After Territory, Ford will reportedly launch a slate of redesigned units of its Focus and Escort models sometime later this year, as well as with the new Lincoln SUVs coming afterward.
Ford automobiles are typically sold at a higher price as compared to home-grown brands such as Geely Automobile Holdings Ltd. And Great Wall Motors Co.
