Introduced in South Korea earlier today, the new Hyundai Equus luxury sedan has been launched at an official ceremony attended by more than thousand important guests and company officials including Prime Minister Han Seung-soo and Hyundai Kia Automotive Group chairman Chung Mong-koo.

Codenamed VI, the sedan has been under development for the last three years and cost Hyundai Motor Company a whooping $350 million. It is replacing the first generation Equus model – jointly developed with Mitsubishi-, which has been on sale in Korea since 1998.

Compared to the old version, the new Equus is a significant step up in terms of performance, applied technologies and fuel economy. Across the pond, the Equus range will include a 290-horsepower 3.8L Lambda II engine and a 366-horsepower 4.6L V8. In the second half of the year, the Equus also gets the new, even more impressive 5.0L V8 making more that 420 horses.

Both engines achieve quite impressive fuel economy ratings of 7.6 kilometers per liter (18US-MPG) for the V6 and 8.8 kilometers per liter (21MPG) for the V8. The old 4.5L V8 engine, fitted to the first generation Equus only managed to achieve 6.9 kilometers per liter of fuel (16MPG).

For its latest flagship model, Hyundai developed some highly advanced technologies including the Lane Departure Warning System, Vehicle Stability Management, Parking Guide systems and Advanced Front Lighting System.

Hyundai plans to sell 13.000 units this year, while next year, the company will liftits production to 19.000 units. Reportedly, the Equus will also go on sale in the Middle East and China.

Find more on the 2010 Equus sedan here: Hyundai Equus VI

Hyundai Equus sedan image gallery:

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[Photosource: Rpm9 ]