According to a report from analysts at Bernstein Research seen by Autocar, the new model is codenamed L560 and is expected to be launched in 2016.
The report also says L560 will be based on the same aluminium platform as the new family of compact Jaguar models and will be made in the same new facility, currently being built at Solihull.
The Bernstein analysts suggest that the Evoque XL could achieve annual sales of up to 80,000 units and is likely to be the most profitable model of the five body styles (four Jaguars and this new Range Rover) being planned on the new aluminium platform.
The new Jaguar crossover — which, Autocar understands, will be smaller than the C-X17 concept — will be priced from about £33,000. The new Evoque XL, meanwhile, will help to drive profits because it is expected to sell at between £41,000 and £55,000 in today’s money.
L560 is also likely to become Range Rover’s most economical model, thanks to a combination of the lightweight aluminium architecture and the all-new ‘Hotfire’ four-cylinder engines currently being developed by JLR. Indeed, the majority of Evoque XL models are likely to be powered by four-cylinder petrol and diesel engines (further reducing overall weight) in various states of tune.
The addition of this model is likely to round off the Range Rover family for the medium term. By the time that the Evoque XL is launched, the brand will stretch from the £30,000 entry-level Evoque to the upcoming long-wheelbase Range Rover, which is expected to have a six-figure price.
Jaguar brand boss Adrian Hallmark recently revealed his plans to push a product-led revival of the firm.