In a sneak peek of the new model, Lexus has released two teaser photos.
According to a report by Australian motoring website Carexpert, the new Lexus LBX will be based on the Toyota GA-B platform, which underpins everything from the Yaris and Yaris Cross to the Aqua (Prius C), Aygo X and Sienta.
Carexpert says should the LBX be based on the Toyota GA-B platform, it will likely be available with similar powertrains to the Yaris and Yaris Cross – i.e. three-cylinder petrol and hybrid options.
Carexpert noted that in the Yaris and Yaris Cross, the 1.5-litre naturally-aspirated petrol-electric hybrid offers a system power output of 85kW, and fuel use as low as 3.3 litres per 100km.
Key rivals would include the Audi A1 and MINI range, as well as high-spec versions of mainstream hatchbacks and crossovers, according to Carexpert.
It pointed out that while not a direct replacement, the LBX will serve as a spiritual successor to the old CT200h hatchback, which drew upon old Prius underpinnings in a Corolla-sized hatch package.
Carexpert also noted that the CT was discontinued globally in 2022, and was sold in Australia until 2021.