Ever since the stunning Lexus LF-1 Limitless concept debuted at the 2018 Detroit Auto Show, we've been hoping it will spawn a production model that will serve as the Japanese automaker's new flagship SUV slotting above the Lexus LX. Last month, a report claimed the Lexus LF will debut later this year, but Japan's Best Car Web says that the launch is being delayed until 2023, so we're going to have to wait a little longer.

According to the publication, the development of the new 4.0-liter twin-turbo V8, which will also power the upcoming IS F and LS F, is taking longer than expected.

This unit is expected to generate around 660 horsepower, so the LF should be worth the wait when it eventually arrives. A 3.5-liter V6 hybrid will also be available, which produces 354 hp and 257 lb-ft of torque in the LS 500h. Riding on the TNGA-L platform also used by the Lexus LS, the LF is expected to measure 206 inches wide, 74 inches wide, and 62 inches high, making it the Japanese automaker's largest SUV to date.

When it arrives, the production model is expected to retain the concept's LF name and be offered with either two or three rows.

Unsurprisingly, the Lexus LF won't be cheap. Best Car Web claims the new flagship SUV will cost around 15 to 20 million yen - that's between $138,000 to $184,000 at current exchange rates, making it the Japanese automaker's most expensive SUV by a huge margin. However, the price we pay in the US usually isn't a straight conversion, so we'll have to wait to find out more.

We could get more details later this month, as the Japanese automaker has been teasing a mysterious concept that appears to be a sleek SUV. It's rumored to have an all-electric powertrain, or it could be an updated LF concept previewing the production model to help ease the wait. We'll find out for sure on March 30 when the concept makes its world debut.