• CNNMoney.com, Wednesday, March 28, 2007 11:13 AM

South Korean automaker Hyundai will show a V8-powered luxury car called Genesis at the New York Auto Show in early April that will go on sale in the U.S. early next year. The car's size and power put it in competition with cars from BMW, Cadillac and Mercedes-Benz.

The Genesis concept car will be powered by a 4.6-liter V8 engine capable of producing "well over 300 horsepower," the company says. Power will go to the car's rear wheels through a six-speed manually shiftable automatic transmission. A V6 engine will be standard in the production version. Genesis will be available with leather seats that are both heated and cooled. It also has an active cruise control, which uses radar to maintain a set following distance behind other cars on the highway.

Hyundai isn't chasing typical luxury car buyers, claims John Krafcik, Hyundai Motor America's vice president for product development and strategic planning. Instead, the Genesis is for those who eschew paying money for a badge.

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