Hyundai is typically known as a manufacturer specializing in low-priced vehicles, but it appears that the company is taking a new direction as of late as it expands into the luxury market and leaves the more affordable options to its Kia sub-brand.

A prime example of that new strategy is the recently-announced price for the company's next luxury vehicle, the 2011 Equus. The new Equus will start at $58,000, with an "Ultimate" edition priced at $64,500. That's a full $25,000 more than the company's previous luxury offering, the $33,000 Genesis.

"We're confident that smart luxury buyers will discover that Equus competes well with similar flagship products from Mercedes-Benz, BMW, Audi and Lexus," said John Krafcik, Hyundai Motor America president and CEO.

Hyundai is offering a number of bells and whistles with the car, including an Apple iPad pre-loaded with the full owners manual for all buyers. The company is also offering valet service for vehicle maintenance, meaning the dealership will send a representative to pick up the car and provide drivers with a replacement Equus or Genesis while it is being serviced. In addition, the car is backed by a 5-year, 60,000-mile warranty.

Buyers looking at luxury vehicles may want to consider the Equus, but might want to wait until the model hits the used car market and can be found at a discount.