Had Toyota stuck with Plan A, this is the car that would never had been seen.

As is, the time taken to get production version of the Lexus LF-A to market has been .... Well, rather protracted. Those with longer memories might recall that the first concept was revealed at the Detroit motor show back in 2005.

Back then Toyota's luxury arm dropped big hints that it would time the release of the production version of its first supercar with a the first victory by the Toyota Formula One team.

Which, as you'll recall, finally occurred at the .... um, never actually. The team has come close, with a couple of podiums including two second places. Not a great effort for all the innumerable millions spent.

Anyway, it's here now. The LF-A that is. Unveiled just today at the Tokyo motor show. The 320kmh two-seater, Lexus says, delivers 'extreme, race-bred performance with advanced technology and absolute exclusivity'.

What that translates to is that the car won't be anything like Corolla common. Lexus reckons just 500 examples will be built and when it does go on sale next year it'll cost at least $750,000. Don't start petitioning your local Hilux salesman just yet - Lexus NZ has previously told us the car is too rich for their tastes, so they're not adding it to the lineup. The closest LF-A market will likely be Australia.

Neat-looking car, don't you think? The bespoke, naturally aspirated 4.8-litre V10 engine delivers 389kW and a maximum torque of 480Nm at 6800rpm.

As a result the car accelerates from 0-100kmh in 3.7 seconds with a top speed of 320kmh. The engine is mated to a rear-mounted six-speed Automated Sequential Gearbox (ASG) which has four driving modes: Auto, Sport, Normal and Wet, activated by a selector dial on the dashboard. Each mode has a specific gearshift programme, and engine and brake control logic systems to let the driver tailor the car's performance to suit driving conditions.

Lexus opted for advanced carbon fibre reinforced plastic for the chassis and bodywork. Lexus says this saved around 100kg over an equivalent aluminium body. Kerbweight is 1480kg.

Inside, the LFA features bespoke seats upholstered in leather and Alcantara, and trim details are finished in brushed metal and the floor-hinged brake and throttle pedals are made of forged aluminium. Owners can choose different interior colours and details to suit personal taste. An information selector switch on the left side of the steering wheel lets the driver toggle through a series of functions, including customising the data display, adjusting cabin illumination and operating a track-ready stopwatch system.

The LF-A will be hand-assembled at the Motomachi plant in Toyota City and will be built at a maximum rate of 20 per month. Each V10 engine will be assembled by a single engineer, and will bear his signature when it comes off the production line.

The tie with motorsport extends beyond the F1 programme. In 2008 and 2009 the LFA was entered in the Nurburgring 24-hour race, the intention being to push the car hard under testing conditions.

What this means to you: Not your Nana's Toyota. Not even close.