In July 2020, a tailgate photo leaked to the press, confirming the truck would use the Maverick name, previously used on Ford's compact passenger car (1970–1979).

[12] The Maverick is manufactured at Ford's Hermosillo Assembly in Mexico alongside the Bronco Sport for both the North and South American auto markets.

A 2.5-liter iVCT Atkinson cycle inline-four gasoline engine paired with an electric motor produces a combined 191 hp (194 PS; 142 kW) at 5600 rpm.

[21] The package includes a twin-clutch rear drive unit with a differential lock feature taken from the Bronco Sport Badlands that can divert rear-axle torque to either wheel.

[22] It also includes a redesigned front fascia to improve the approach angle, upgraded suspension components, and a factory lift to increase ground clearance by 1" over other Maverick models, in addition to off-road features from the existing FX4 package.

[25] Standard equipment on all trim levels includes a touchscreen infotainment system with wired Apple CarPlay and Android Auto smartphone integration and 4G LTE capability, a rear-view camera, pre-collision assist with automatic emergency braking, power windows and door locks, remote keyless entry, auto-on headlamps and auto high-beams, a multi-function steering wheel, and air conditioning.

Optional features available as part of the luxury package only on the top-tier trim level include adaptive cruise control, a Bang & Olufsen premium amplified audio system, and SiriusXM satellite radio.

A First Edition Package was available at launch based on the top-tier trim with options, including the 2.0L EcoBoost engine and eight-speed automatic transmission.

Changes include a new front fascia with new headlights (in the shape of number '7'), the interior receives a new 13.2" touchscreen using Sync 4 software with wireless Apple CarPlay and Android Auto smartphone integration and 5G LTE connectivity, the option of a 360-degree camera system, the addition of Pro Trailer Backup Assist and Pro Trailer Hitch Assist features, and the AWD and 4K Tow options became available on the Hybrid models for the first time.

[29] The facelift brings the introduction of the Lobo trim, which features dual-piston front caliper for the braking system, a sports-tuned suspension lowered by 0.5 in (13 mm) and 1.12 in (28 mm) front and rear, respectively, a retuned AWD system with a Lobo mode that activates torque vectoring, a sportier exterior design with black painted trim and 19" black colored turbofan-styled alloy wheels.

The 2.0L EcoBoost engine found across the trim levels remains identical in architecture while power output drops to 238 hp (241 PS; 177 kW) and 275 lb⋅ft (373 N⋅m; 38.0 kg⋅m).