The big three Japanese automakers, Toyota, Honda and Nissan are involved in a three-way supercar fight. We know that Nissan’s awesome GT-R is well on its way, complete with a production schedule. The replacement for the mid-engine, aluminum-bodied NSX is also pending too. But the one that’s got everyone talking is the new Lexus supercar, which will take the form of the LF-A concept that showed up at January’s North American International Auto Show, not to mention the fact that it’s been spied several times on the move at Germany’s famed Nurburgring circuit.

Lexus’ decision to pursue the world’s finest automakers into the supercar forum takes the brand into brave new territory. Toyota’s luxury division is pulling out all stops on the development of this vehicle, using tactics we’ve never seen in one of their products before. For instance, the chassis layout will feature a mid-engine layout, whereas all previous Lexii use a front engine setup. To go along, the car also has rear-mounted radiators for better engine cooling, plus a transaxle that’s mounted at the very back of the car like in the Chevrolet Corvette or the Maserati Coupe. It’s one thing for Lexus to share components between cars, but with a vehicle like this, you can bet there’s a lot of proprietary development.

The latest news regarding the LF-A fills in plenty of detail with regards to the engines it’ll feature. The main model, supposedly called GT500 (will Ford/Shelby pull up a lawsuit?) will feature a brand new 5.0-litre V10 that’s slated to develop 500 horsepower, giving it the muscle and might to surpass the likes of Audi’s R8 and Porsche’s 911 Turbo. A second, “green” option is also on the table, utilizing the hybrid drivetrain of Lexus’ flagship sedan, the LS 600h. Though the hybrid’s engine is of the same displacement, it features two fewer cylinders and less horsepower. Expect output to be in the 440 horsepower range, though the gasoline-electric version won’t be available until midway through the LF-A’s life cycle, sources state.

As time passes on, more and more of the LF-A’s camouflaged skin is shedding, which gives us a better idea of what the finished product will look like. It appears as if the luxury brand is sticking to the latest rendition of the LF-A concept car despite receiving criticism from the press about its odd-looking nose portion with its large and oddly-shaped vents. Around back, the test mule that snappers spotted featured conventional looking lamps, but we wouldn’t be surprise if Lexus reverted to the concept’s narrow, L-shaped units when showing the finished product off. Much the same would go for the unique triple exhaust pipe setup that sits above the rear diffuser. These little design trinkets will help differentiate the LF-A from other supercars on the market today.

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