Development of the LS began in 1983 as the F1 project, the code name for a secret flagship sedan. At the time, Toyota's two existing flagship models were the Crown and Century models - both of which catered exclusively for the Japanese market and had little global appeal that could compete with international luxury brands such as Mercedes-Benz, BMW and Jaguar. The resulting sedan followed an extended five-year design process at a cost of over US$1 billion, and premiered with a new V8 engine and numerous luxury features. The Lexus LS was intended from its inception for export markets, and the Lexus division was formed to market and service the vehicle internationally. The original LS 400 debuted to strong sales, and was largely responsible for the successful launch of the Lexus marque.