Ford Motor Co unveiled its premium brand Lincoln for the first time in China on Thursday. The launch was part of the US automaker's global plan set out two years ago.

"We plan exactly on the schedule laid out," said President and Chief Executive Officer of Ford Motor Company Alan Mulally.

"I was dreaming about the plan earlier in 2006, when I decided we are going to absolutely focus on Lincoln and Ford to customers worldwide. It's our dream come true," he said.

Mulally attended a media gathering in Beijing, where the company set up a site to introduce Lincoln models to the Chinese market.

"I think the vehicles you've seen today are going to be very popular," he said.

The announcement indicated the US auto giant's desire to join in the competitive luxury vehicle market, which is crowded with other overseas automakers.

Mulally said he believed Lincoln was "absolutely" ready to take on the world's largest market.

"I think the most important thing we do, just like what we do in Ford, is we made luxury vehicles people really do want in value," he told China Daily. "We can offer those even more affordably."

The company is prepared to offer luxury vehicles to more people in China, where the market is growing significantly.

"It's not so much that you have to take away from somebody else," he said. "As if you can have vehicles the new bazaar wants, then they can move right into Lincoln quickly."

The luxury market has grown enormously during the past few years. "But we still see significantly growth left the luxury market," said John Lawler, chairman and CEO of Ford Motor China.

According to research data from the automaker, the scale of China's luxury market will rise. Currently it accounts for 6 percent of the global market and this is expected to hit 9 percent in 2020, surpassing the US, with annual sales estimated to reach 2.7 million vehicles.

Lincoln also plans to price vehicles competitively, with segment leaders for each level, to give customers better value compared to other imported cars.

Ford plans to leverage its own strength on Lincoln worldwide to allow the brand to bring not only vehicles to China but also personal service.

"We think that combined with the strength of Ford Motor Company and the strength of the product, we can really redefine the luxury experience of the automotive industry in China," said Lawler.

The auto giant's head of China said in an interview in February that he expected to sell more than 1 million Ford vehicles in 2014.

"We are not talking about sales targets right now for Lincoln," he explained.

He said Lincoln starts out this year in China with eight dealers in seven cities and the brand will expand to 16 dealers in 15 cities.

"We'll start out slowly this year and we'll start to build the brand," said Lawler, "and as we do that, we will start to accelerate sales."

Mulally said Ford has the production capability to support the increasing demand for luxury vehicles in China.

Currently, the company does not separate operating performance by model and the target is 8 to 10 percent in operating margin, he said.

Ford Group Vice President and President, Asia Pacific, David Schoch, told the Wall Street Journal last December that they would build Lincolns in America and ship them to China at first.

Mulally said Lincoln did not announce sales targets because these would be led by consumers. "The most important thing is to help everybody understand they've got a very, very exciting choice of luxury brand even more affordable in China."

The CEO, who started working for Ford in 2006, was ranked one of the most popular in the US after his efforts to drag Ford out of trouble, according to an online survey. He also worked for Boeing for more than 37 years.

"The absolute key to innovation for airplane and cars, is consistency of purpose by continuously improving quality, fuel efficiency, safety and smart connectivity," he said. "And using all enabling technology to make those continuous improvements."

qiubo@chinadaily.com.cn