The Equus is designed to compete with luxury sedans like the Mercedes-Benz S-Class, the BMW 7-Series and the Lexus LS, but at a typical Korean price tag that will undercut the competition.

Hyundai made the decision to sell the car in the US after receiving positive reception from the public. "We showed the car at the New York Auto Show earlier this year, and the response was fantastic," says John Krafcik, Hyundai Motor America president and CEO. "Since then, we've had a fleet travelling around the country, capturing input from our dealers and consumers. Here, too, the response was extraordinarily positive, and similar to the market reaction to the award-winning Genesis, so we've decided to bring it to the U.S."

The Genesis won the 2009 North American Car of the Year award, and Hyundai is hoping to capitalise on that success, since the Equus is based on a lengthened version of the same rear-wheel-drive platform as found on the Genesis.

Three engines are available for the Equus, a 3.8-litre Lambda V6 that produces 286 bhp, a 4.6-litre Tau V8 with 361 bhp, and a flagship 5.0-litre version of the Tau V8, which is expected to be the engine to be sold in the US. A long wheelbase version of the Equus is also said to be in the works.

The interior will be lavished with luxuries, with equipment such as tilting rear seats, massagers and TV screens in the rear seats said to be available as options. Full details, options and specifications will be revealed closer to the car's launch next year.