We’ve been spying prototypes for months, including in the U.S., but now, finally, Ford has taken the wraps off its new Fiesta-based crossover.

Making its debut as the Ford EcoSport at the 2012 Delhi Auto Expo in India this week, the new compact crossover is the latest installment in Ford’s ever-expanding global product family.

Its development has truly been a global effort, with insight come from design teams based in Asia, Europe and North America.

The vehicle will launch first in emerging markets before embarking on a full global rollout, which is almost certain to include the U.S. though it’s yet to be confirmed. If so expect to see it land early next year wearing a 2013 title and possibly a new name.

The vehicle is based on the Blue Oval’s global B-segment platform, used in other subcompacts like the Fiesta and upcoming B-Max. This particular platform is crucial to Ford’s future success as vehicles based on it are predicted to represent more than two million units of annual production as subcompact cars continue to drive global growth.

Under the hood is a 1.0-liter EcoBoost engine, which thanks to a host of technologies including turbocharging, direct injection and variable valve timing, is similar in performance to a regular 1.6-liter unit. Peak output is rated at 118 horsepower.

Ultimately, this engine will be made available in Ford models in China, Europe, North America and other regions, the automaker has confirmed.

For more from the 2012 Delhi Auto Expect, click here, and for a more detailed look at the Ford EcoSport, head over to Green Car Reports.