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Most expensive Chinese car in history sells for $800k

Published by on Apr 24, 2014 in News Leave a comment

Hongqi L5 Luxury

The Chinese car industry is not really famous for producing any luxury models and cars built here are usually seen like the rest of things made in China: cheap and exactly reliable. But there are some exceptions, like the recently launched Hongqi L5 which made its debut at the Beijing Motor Show. The model is not exactly new, being the preferred vehicle by those in the Chinese government for years (Hongqi means “Red Flag”), but this is the first time the car is available to civilians too.

The car wants to compete Bentley or Rolls Royce and during the Beijing show they also announced the first sale, to Chinese businessman Wang Zhonghua. He owns a chain of furniture store and decided to buy an L5 despite having other more famous options such as the Rolls-Royce Phantom or the Ferrari FF. The L5 limousine features a retro styling inspired by the company’s first models and is powered by a 6.0-liter V12 made from aluminum and mated to a six-speed automatic transmission. The model also features four-wheel drive and hydro-pneumatic suspension “borrowed” from its partners. However, the car wrights more than 3 tonnes and its performance figures aren’t exactly impressive: top speed is 125 mph while fuel consumption is around 11 mpg.

Like you probably know, every foreign carmaker that wants to sell cars in China has to sign a partnership with a local manufacturer. Volkswagen Group chose a deal with FAW Group, the company producing the L5, and the two companies operate several production facilities throughout China, with all units going to the local market. FAW Group was China’s first carmaker, after being founded by the Communist Party in 1953.

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