A new report sheds some light regarding the mysterious Lexus-BMW supercar currently being developed.

A prototype of an all-wheel drive mid-engined supercar has already been completed and it will spawn both Lexus and BMW production cars at the end of the decade. The Lexus-badged version is expected to come out by 2020 and will carry an estimated starting price of £160,000 (€217,000 / $243,500). It will act as a spiritual successor of the highly appraised LFA but instead of a V10 4.8-liter naturally aspirated engine it will allegedly employ a detuned version of the hybridized V8 3.7-liter motor used in the Toyota TS040 racecar.

A source close to the matter cited by Auto Express states that although 1,000 bhp (746 kW) is possible, the engineers are targeting a maximum output of 800 bhp (597 kW) as they have to take into account factors such as engine tolerances, emissions and fuel consumption.

It's not known at this point how many units Lexus plans to make considering the LFA was capped at 500 units, but most likely the model will be offered in limited quantities as it's highly unlikely Lexus will sell it as a regular production car given the steep price tag.

As for the BMW version, the report specifies it will cost roughly the same but instead will have an M-developed straight-six twin turbocharged engine part of a hybrid setup using many bits and pieces from Toyota.

Expect the exterior and the interior cabin to have major differences, but underneath the skin both cars will use an aluminum spaceframe and carbon fiber tub to keep weight down low. The electric motor/motors will power the front axle whereas the combustion engine will be in charge of driving the rear wheels, thus creating a hybrid all-wheel drive setup.

Chances are both Toyota and Lexus will roll out concept cars in the years to come ahead of the proper production versions.

Gallery: Lexus LFA successor co-developed with BMW to cost around €217,000

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