V12-powered Chinese limousine sells for $800,000

The Hongqi L5 packs a 400-horsepower V12.

China's Hongqi has announced it has sold the very first regular-production L5 for over $800,000, a sum that makes the limousine the most expensive Chinese car ever built. The L5 was purchased by the owner of a furniture-making company on the sidelines of the Beijing Motor Show.

Essentially a Chinese Rolls-Royce, the L5 wears a retro-styled design characterized by round headlights and a large radiator grille with chromed vertical slats, two design cues that hark back to the Chrysler-based CA770 that was introduced in 1966. Vertical tail lamps continue the homage to the CA770 out back, but the L5 has lost its predecessor's suicide rear doors.

The interior is lavishly appointed with hand-carved wood trim on the dashboard as well as acres of perforated leather upholstery. The retro ambiance continues with a two-spoke steering wheel equipped with a chrome horn ring, but Hongqi has opted to fit the car with state-of-the-art electronics including a digital instrument cluster and a tablet integrated in the rear armrest.

Power comes from a 6.0-liter V12 engine that sends 400 horsepower and 405 lb-ft. of torque to all four wheels via a six-speed automatic transmission. Performance figures are not available but the 400 ponies are more than necessary to move the 20-foot-long, 6,000-pound limousine.

Hongqi (a name that translates to "red flag" in Chinese) hopes to sell a small number of L5 limousines to private buyers in the coming years. At the time of writing the company has not expressed an interest in selling cars outside of its home country.