Hyundai has announced that it may be expanding its luxury offerings by debuting a new sedan based off of its current Genesis Coupe.

According to Automotive News, the South Korean automaker is looking to create an entry-level sedan that could compete with vehicles like the BMW 3-Series, Audi A4, Mercedes-Benz C-Class and Acura TL. The Genesis Coupe has been a successful luxury vehicle for the company, so the automaker is currently considering a model that is based off the car's sharp styling cues.

"The Genesis Coupe is in the same segment, really, as the 3-Series coupe," Hyundai CEO John Krafcik told the news source. "One of the things we're thinking is: Should we do something that's a sedan version of that?"

Although only recently talked about, unidentified sources with knowledge of the automaker's plans told the news source that the car had been in development for some time now, dating back to 2006. Hyundai execs call the vehicle the "RK" internally.

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