There are all manner of rumors and conjecture surrounding the development of a high-performance Lexus GS F, including reports claiming the car could borrow the LFA’s V-10, go the hybrid route, or simply feature a regular V-8.

The latest speculation is that the car will be coming in time for the 2014 model year complete with a supercharged V-8.

Lexus has denied reports that a GS F based on the recently revealed 2013 Lexus GS 350 is planned, though comments from Toyota CEO Akio Toyoda say otherwise.

Speaking with Inside Line, Toyoda said: "I want Lexus to compete around the world with global Lexus models. And don't worry about high-performance Lexuses like F Sport and F models going away."

A supercharged V-8 powertrain would allow the GS F to compete with its intended rivals, the 2012 BMW M5 and 2012 Mercedes-Benz E63--two models that recently went the forced induction route, albeit with turbochargers.

With the IS F’s 5.0-liter V-8 in naturally aspirated form already producing 416 horsepower, a bespoke supercharging system could potentially see the V-8 deliver the 550-odd horsepower needed to compete with the aforementioned rivals.

An eight-speed automatic will likely be standard, and drive should go strictly to the rear wheels in line with Toyoda’s belief that Lexus’ F models should be targeted at the most sophisticated of drivers.

As for its styling, look to Lexus’ GS F-Sport accessorized model appearing next week at the 2011 Frankfurt Auto Show for an idea of the aggressive look a real GS F could feature.

Stay tuned for an update.

[Inside Line]