Ford plans to bring its 1.0L EcoBoost engine, which the automaker debuted in Europe, to the United States in the 2014-MY Fiesta.

Ford said the three-cylinder 1.0L EcoBoost engine can produce up to 123 hp and provides peak torque of 148 lb.-ft. and that it’s launching in the European versions of the B-MAX and C-MAX, and in the all-new Mondeo (the European version of the Fusion). Ford said the engine has about the same output as a 1.6L four cylinder but has 25% fewer moving parts and is an affordable option, as adding an EcoBoost engine to most Ford vehicles generally costs around $995.

In terms of fuel-economy performance, the automaker hasn’t provided any estimates but said that in general, EcoBoost technology can improve fuel economy by up to 20% without causing a performance loss. Engine features include an offset crankshaft, a variable oil pump, a split cooling system, a small turbocharger and a timing belt immersed in engine oil.

Since Ford launched the engine in the Ford Focus in Europe, it has received a number of honors from different groups. In April 2012, a panel of 76 journalists from 36 countries voted the 1.0L EcoBoost engine as the International Engine of the Year. In June, it set 16 land speed records at a racetrack in France, and in October Ford received a Breakthrough Award from Popular Mechanics magazine for the engine. It also won the DeWar Trophy in the U.K. this month.