Ford Figo is aimed at the heart of India's car market

We won't see it on our shores, but Ford has used the Fiesta platform to create the Figo for India and other markets in the Asia-Pacific and Africa regions.

Ford CEO Alan Mulally introduced the Figo on Wednesday in Delhi. The car will be built at Ford's plant in Chennai, India. Ford is spending $500 million on the plant to double its annual capacity to 200,000 units and to add a lower-emissions paint plant.

The Figo will compete in India's small-car segment, which accounts for 70 percent of the country's annual car sales.

Ford did not release technical details about the Figo, which goes on sale early next year.

By Dale Jewett