And while rumours of...

And while rumours of a 480bhp replacement have been circulating for more than a year, these pictures are the proof the project is finally underway. Known only as the F1 Commemoration Car in Japan, the two-door prototype seen here is powered by a mighty front-engined 5.0-litre V8, which will also be used in future Lexus models.

The naturally aspirated unit will be mated to a six-speed automatic gearbox feeding power to the rear wheels, with manual paddleshifters mounted on the steering wheel. It"s also thought that hybrid technology could be used on some variants to boost torque, without increasing emissions. As you can see, there are no visible air intakes at the front. Engineers have fitted radiators at the back, just below the makeshift tail-lights on this test mule. At the rear, an aerodynamic undertray and three centrally mounted exhausts hint at the newcomer"s performance potential.

Insiders tell us the model won"t be launched until Toyota"s F1 team starts to record regular podium finishes. Cynics say that we"ll be waiting forever, but the car will be road-ready by 2006.