The current economic downturn may be severe enough to affect even the ultra-well-heeled folks who make up Bentley's target audience, but that hasn't stopped the company from revealing its latest flagship sedan: The Mulsanne.

Slated to go on sale in the middle of 2010 as a 2011 model, and it will be priced somewhere in the neighborhood of $300,000, according to Automotive News. That trade publication also says it will take workers at the company's Crewe assembly plant in England about 40 hours to hand-build the woodwork inside the car's cabin. All in all, Automotive News says that about 700 Mulsannes will be sold per year.

The Mulsanne will be the first Bentley since 1932 to be completely designed, engineered, and built at Crewe. The Mulsanne will share its segment with the Arnage, and its V-8 engine will share its dimensions with the V-8 found in the Arnage, but almost all parts and components will be different, according to Automotive News.

A sneak peek of the Mulsanne took place at the Pebble Beach Concours D'Elegance. The car was shown at a private reception at a country club in Carmel, California. The wider world will get a more in-depth look at the Frankfurt Motor Show in September.

The Mulsanne name evokes Bentley's past success at the famous 24 Hours of LeMans race in France, but a car this big will be better known for its luxury pedigree than for its racing bonafides. We'll bring you more details once we have them after the Frankfurt unveiling.

[Source: Bentley, Automotive News]