Since Toyota Motor, also a latecomer manufacturer, has successfully produced the top-level brand Lexus within 30 yeas, which offers abundant insights for domestic automobile manufacturers and even competitors around the world, this paper attempts to deeply investigate into the core of Lexus by adopting a exploratory case study, so as to set up a systematic innovation model of high-end automobile product integrating technological capability with organizational capability. A comparative case study between Lexus and Hongqi from domestic automobile manufacturer China FAW Group Corporation was also applied to offer some insights for catching up with Lexus.