Chrysler President and Vice Chairman Jim Press was giddy with excitement and cracked one joke after another while presenting what is one of the company’s most important vehicles ever, the all-new 2011 Jeep Grand Cherokee.

The Grand Cherokee’s success is crucial to Chrysler’s survival and, one could argue, so is Press’ cheerleader-like enthusiasm. “I know it’s unusual to show a product this far in advance,” he said. “But we’re just bubbling over with excitement.”

At a glance, the midsize SUV certainly seems promising. Its restrained and upscale exterior, with an 8 percent better coefficient of drag, covers a platform based on the Mercedes-Benz M-Class that is bristling with technology. Frank Klegon, executive vice president of product development, played up the sport ute’s air suspension, which raises and lowers the vehicle 4 inches. It’s a linchpin for the Grand Cherokee’s appeal as a luxury SUV, one that is as adept at coddling occupants in a quiet cabin as it is plodding through mud.

An all-new 4-wheel independent suspension and 146 percent stiffer chassis should provide impressive on-road driving dynamics – for a large SUV, anyway. Meanwhile, three available 4-wheel-drive systems offer a range of off-road capabilities, from basic all-wheel drive for slick roads to a hard-core setup with an electronic limited-slip differential, transfer case and five electronically controlled settings.

The interior has features normally reserved for pricey luxury sedans, like a leather-wrapped dashboard, real wood trim and available heated steering. Rear occupants even have the option of heated seats, along with 4 inches more legroom than its predecessor and reclining seatbacks. Engineers also paid attention to practicality. “We looked everywhere for places to store things,” Klegon said, pointing out removable storage bins in the spare-tire well.

The base 280-horsepower V6 engine is 33 percent more powerful and 11 percent more efficient than the engine it replaces. The optional 5.7-liter 360-horse Hemi V8 offers 7,400 pounds of towing capacity on rear-wheel-drive models.

A dual-pane sunroof and power rear liftgate are among the Grand Cherokee’s long list of available amenities that are fast becoming must-haves in the industry. “SmartBeam” headlights that adjust to ambient lighting and oncoming traffic are a first for the segment, Chrysler says.

Despite all of the Grand Cherokee’s technology and high-end features, Press said – without going into detail – that the company would hold to “volume pricing”: “We have a responsibility to the American public to put the customer first and put the focus on quality.”