Chinese luxury automaker Hongqi has rolled out a plethora of fine models since its founding in 1957, and now the company whose name means “red flag” in Chinese has created its country’s most expensive car to date with an $800,000 price tag.

The Hongqi L5 boasts an old-school design, and it is even rumored that the designers of the retro ride gained inspiration from Chairman Mao’s 1960s-built Hongqi CA770. It even features the same round headlights and front grill as its predecessor.

The exterior is not the only thing with a throwback feel. The engine earns one too with the L5 packing a 6.0-liter V12 power source that pumps out 402 horsepower and 405 pound-feet of torque. Critics are quick to point out the underwhelming power given the size of the engine, but the L5 somewhat redeems itself with intelligent four-wheel drive technology and an adjustable hydro-pneumatic suspension that makes the car glide down the road.

The L5’s first buyer was a Nanjing-based car lover named Wang Zhonghua who purchased the first edition of the model recently at the Beijing Auto Show.