Hyundai hopes to expand their auto manufacturing into the luxury car business with their new Equus luxury sedan. The Equus is similar to the Lexus LS 460 and the Mercedes-Benz S550 as they are the same size and equipped with similar horse power. This strategy, similar to Honda starting Acura and Toyota starting Lexus in the 1980’s, has been successful for Honda and Toyota, but due to the economy these days, Hyundai may experience difficulties.

The Equus will sell for $50,000 to $60,000, according to Hyundai executives. The exact price will be announced closer to the sales launch, but they say it will be thousands of dollars less than a similarly equipped Lexus or Mercedes. Hyundai will also offer customers an iPad with their new car in an attempt to tap into the hype over Apple’s new tablet computer. Loaded with a digital version of the owner’s manual and pre-loaded applications for making service appointments Hyundai hopes to make their vehicle more attractive to the technological consumer.