China’s rather curious Hongqi L5 luxury sedan, one of the country’s most expensive cars, will soon receive a twin-turbocharged V8 to sit alongside the currently available V12 model.

According to Car News China, the new V8 will produce around 381 hp and 500 Nm (368 lb-ft) of torque and be mated to an eight-speed automatic transmission sending power to the rear wheels. The existing 6.0-liter V12 by comparison offers up 408 hp and 550 Nm (405 lb-ft) of twisting power.

Understandably, the V8-powered L5 will be cheaper than its V12 sibling, priced from about 4 million yuan ($534,830) compared to the 5.5 million yuan ($734,830) needed to pick up the V12. It is reported that the V8 will be available from April 2017.

For those not familiar with Hongqi, the company is China’s oldest automobile manufacturer having launched in 1958. It is best known for producing state limousines for government officials but also offers a number of cars to the general public.

Photos via Auto Sina

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