Ford Motor (F.NYSE) will introduce Lincoln brand cars in China in a bid to compete with General Motors and Volkswagen in the lucrative luxury vehicle market, Bloomberg reported. The company will launch the cars in the second half of 2014 and begin recruiting dealers for the brand in the fourth quarter of this year, according to a press briefing with chief executive Alan Mullaly in Beijing on Tuesday. Ford named Richard Baker, former deputy general manager of Changan Ford Sales, to head the Lincoln brand in China. Mullaly did not disclose how much Ford would spend on promoting Lincoln. The company is attempting to gain a portion of the luxury segment in which Volkswagen’s (VOW.FRA) Audi, Bayerische Motoren Werke (BMW; BMW.FRA) and Daimler’s (DAI.FRA) Mercedes Benz hold a dominating 76% market share. Ford has previously announced it is building five factories in China and rolling out other models to boost its growth in the country.
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