Hongqi is on an ambitious mission to return to its former glory, so every L-series model stands out with a retro look inspired by the 1963 CA770 that carried heads of states for decades. The brand’s name means red flag in Chinese, which explains the flapping flag-shaped emblems on the hood and on both front fenders. Under the skin lies a sturdy frame borrowed from Toyota’s Land Cruiser off-roader, according to Russian website AutoReview.

The heritage-laced design continues inside with a twin-spoke steering wheel and a chromed horn ring that would look right at home in a 1955 Chrysler. However, Hongqi tried to blend tradition with 21st-century tech. To that end, the instrument cluster is replaced by a wide color screen mounted in the middle of the dash, and the infotainment system is displayed on a second screen installed in front of the shift lever. Real wood trim, thick carpet, and soft leather upholstery create an upscale ambiance.

Up until this point, all members of the L-series family have used a naturally aspirated, 6.0-liter V12 engine. The L5 will break with tradition by adopting a turbocharged 4.0-liter V8 that makes about as much power as the 12, and an eight-speed automatic transmission that spins the rear wheels. The eight-cylinder is more modern, lighter, and cheaper to build than its bigger counterpart. Neither engine’s origins have been disclosed, though it’s worth noting Mercedes builds both a 6.0-liter V12 and a turbocharged 4.0-liter V8.

It’s no secret that well-heeled Chinese motorists have a healthy appetite for luxury cars, and Hongqi is finally getting serious about taking on better-established European rivals in its home market. AutoReview reports the L5 will carry a base price of roughly four million yuan, a sum that converts to approximately $580,000. That sounds eye-wateringly expensive, but China’s homegrown luxo-barge will actually be cheaper than a Bentley Mulsanne once import taxes are factored in.