Released in 2013 at the Shanghai Auto Show, the L5 is renowned for currently being the most expensive Chinese-made car ever available for purchase, at CN¥5 million Renminbi (US$800,000 UK£580,000).

[7] In 2016 Hongqi announced a V8 version of the L5, powered by a 4 litre twin-turbo V8 producing 381 horsepower with an eight-speed automatic.

[9] The Guoli features a dual-color body design, measures 5980/2090/1710mm in dimension, with a wheelbase of 3730mm, which is significantly larger than the previous generation.

It is equipped with a V8 4.0-liter turbocharged engine that delivers a maximum power of 285 kW (382 hp; 387 PS).

[11] In April 2024, the Chinese name of second generation L5 was renamed as Hongqi Guoli (红旗国礼), the English name remained as L5.