Ford has confirmed a new midsize pickup coming next year, and it has nothing to do with the Fathom. CEO Jim Farley revealed the truck during the company's third-quarter earnings call, aiming it squarely at buyers outside the United States.

The move targets markets where Chinese automakers have been undercutting established brands with cheap, often electrified pickups. Farley wants Ford's new model to do for international buyers what the Maverick already did at home: pull in customers who would otherwise shop elsewhere.

Farley kept most specifics under wraps, but he was clear about timing and cost targets. He said Ford expects the truck's base material costs to run 20 percent lower than today's Ranger.

"Next year, we will be launching our affordable midsize pickup for international markets," Farley said on the call. He did not name the truck, confirm where it will be built, or say which countries get it first.

Farley did spell out the competitive rationale behind it. "We expect the base material cost for this truck to be 20% lower than today's Ranger," he added, presenting the project as a way to compete directly with Chinese pickup makers on price.

Those rivals have been especially aggressive in Latin America and Southeast Asia, pricing midsize trucks well below what legacy automakers typically charge. Ford's answer is a launch window in the next year, its opening move against that pressure.

Cheaper materials don't automatically mean a cheaper sticker price, since build cost and retail price rarely move in lockstep.

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