Chinese Luxury: First Production Hongqi L5 Sold for $803K

Company hopes this car will make local leaders buy domestic again.

Shown at this week’s Beijing Motor Show 2014, the HongqiL-Series was designed to become the new status symbol for China’s political andbusiness elite. This group has grown accustomed to being chauffeured around inforeign brands, but parent company, FAW Group, hopes this limousine will be enoughto bring them back home. Apparently, it worked for one local businessman, whoagreed to shell out “at least” $803,000 (five million yuan) to take possessionof the show car.

The 7,000 pound car is powered by an all-aluminum 6.0-literV12, producing 402 horsepower and 405 lb-ft of torque. It features intelligent4-wheel drive and a hydro-pneumatic suspension, in addition to a host of luxuriesin the hand-crafted leather and wood interior. The patriotic imputes for buyingthe car is also displayed in the brand’s name, as Hongqi means “red flag”.

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