Taco Bell is planning to open a new upscale restaurant to rival Chipotle with a more sit-down fast feel than traditional Taco Bell locations.

The new restaurant is to be called U.S. Taco Co. and will open its first location in Huntington Beach, Calif. The new chain will have a variety of 10 core tacos on the menu, alongside spiked milkshakes and steak fries. And the prices on this new menu won't be quite as economical as Taco Bell, but 4 dollars for a taco is still reasonable.

In a manner very different from traditional Taco Bell restaurants, U.S. Taco Co. will be a sit-down restaurant, but still fast food. Similar to Chipotle, the concept will be to have an open-viewing kitchen and your food made right in front of you.