In this economy, this just doesn’t make sense. Here’s the WSJ with the report:

Hyundai Motor Co. confirmed it will launch a high-end luxury sedan in the U.S. next year, continuing the company’s move upmarket after the successful launches of two other luxury models under the Genesis name. The new flagship is expected to be similar to the Equus, which the Korean car maker sells in its home market for the equivalent of about $75,000. The U.S. vehicle’s name, pricing, packaging and other specifications haven’t been finalized, but it is expected to debut in late 2010. – from WSJ