Ford Motor Company today unveiled its new global compact sports utility (SUV)--EcoSport--in India on the eve of the 11th Auto Expo being held in the capital. The vehicle is equipped with 1-litre 3-cylinder petrol engine. The new compact SUV will further augment Ford s offering in India, as well as in many other markets across the world, including Brazil and the ASEAN markets, Ford Motor Company President and CEO Alan Mulally told media persons here. He said the vehicle has been developed in South America at one of its eight global product development centers in conjunction with teams from Asia, Europe and North America. Mr Mulally said the SUV was designed to combine best-in-class technology, quality and safety aimed at attracting a new generation of consumers in different global markets. However, the price of EcoSport, which is equipped with the latest EcoBoost engine, was not disclosed. The engine will have 120 PS of power and be mated to a five-speed manual transmission. It will be made available in Ford models in China, Europe, North America and other regions. Replying to a question, Mr Mulally said the new model will eventually be sold in nearly 100 markets across the world. The new compact SUV is the second of the eight new global models that Ford plans to introduce in India. The company targets the Asian and African markets to scale up annual global sales to 8 million units by 2015. Meanwhile, Ford India managing director Michael Boneham said the company will inject 142 million dollars into its Chennai facility to buy equipment needed to produce EcoSport. In the Chennai plant, whose annual production capacity is two lakh units, the company manufactures its Figo and Fiesta models. Speaking on the occasion, Group Vice-President and Asia Pacific and Africa President Joe Hinrichs said the Indian market will be the third largest by 2020 behind the US and China. We are still bullish on India and we expect significant growth as per capita income rises in tier-II and -III cities, Mr Hinrichs said. During 2011, Ford sold just under 1,00,000 cars in India.