Hyundai is Developing a New Supercar

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Recently, there's a rumor that Hyundai is developing a supercar to battle the Nissan GT-R and Porsche 911.
 
According to Inside Line, the model would cost between $80,000 and $100,000 and use the new all-aluminum Tao 5.0-liter V8 engine from the Genesis R-Spec.  It remains unclear if the engine would be front or mid-mounted, but in the Genesis R-Spec sedan the engine is rated at 429 hp and 509 Nm of torque.

However, Hyundai CEO John Krafcik says there is no supercar in the works. "No, no," was his response when we asked him about the rumor, which he called "scurrilous nonsense."