It is known as the Fiesta hatchback overseas, that is the very reason why we call it the Fiesta hatchback, to avoid confusion with the current Ford saloon in India.
Of course it will be placed in a segment higher than the Ford Figo. May compete with the likes of Skoda Fabia, Honda Jazz and Hyundai i20. It will be priced a notch higher than the top-end Figo, i guess.
I couldn't resist thinking, but just think about this guys- This hatchback, being a Ford, having a powerful engine, the magical Ford chassis offering brilliant driving pleasure, and a high-quality, solidly-built, spacious hatchback at the price of a Hyundai i20! Not to forget its staggering looks! I would do ANYTHING to get my hands on a hatch like that!