A new version of the Range Rover Evoque XL is to be released in 2016, the manufacturer has revealed.
Autocar.co.uk reports that the vehicle will be designed to 'slot between' the existing Evoque and the Range Rover Sport. Given a working title of 'L560', the new model is likely to hit the market at between £41,000 and £55,000.
Despite the significant upfront price, it's expected that the L560 will eventually be Range Rover's 'most economical model', Autocar suggests, thanks to its new four-cylinder engine and aluminium structure - a metal that is renowned for its lightweight properties. Plus, its diesel engine will help the vehicle weigh less.
Estimates suggest that upon release, Range Rover could sell up to 80,000 of these vehicles each year. As such, as well as being the most economical vehicle on its books, Range Rover could expect the new Evoque XL to become its most profitable, too.
The Evoque XL is set to be manufactured at the new Solihull facility; the same place as Jaguar's new compact models are being assembled.
The news comes as Jaguar boss Adrian Hallmark revealed his plans to 'transform' the overall brand - primarily through the release of this and other new models, but also by investing in innovative technology.
"With continued commitment on investment, with the right products and technologies, absolutely we can be a global number four and part of the European four, and that's the mission," he confirmed, cited by autocar.co.uk.