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.