The new Range Rover Velar is gunning for Audi and Porsche

Audi and Porsche beware. Range Rover is coming for you.

On Wednesday, Land Rover's premium SUV brand, released a teaser photo of its upcoming Velar off-roader.

The teaser image of the Velar shows a panoramic glass roof with a large infotainment peeking through.

In addition, the rear end of the SUV features an integrated spoiler, vertical tail lights and a host of other styling cues pulled from various Range Rover models.

According to the folks at Range Rover, the Velar will be position between the compact Evoque and the midsize Sport.

As a result, the Velar allows Range Rover to close $24,000 price gap between the $42,000 Evoque and the $66,000 Sport - putting the brand in a better position to hold onto customers looking for a $50,000 to $60,000.

In addition, the Velar also gives Range Rover a true head-to-head competitor for Audi's second generation Q5 and Porsche's hot-selling Macan - not to mention the stunning F-PACE from sister brand Jaguar.

The Velar, which takes its name directly from Range Rover's original development prototypes from the 1960s, will be officially unveiled on March 1, ahead of the 2017 Geneva motor show.

Jaguar Land Rover is coming off of a historic year in 2016 with sales up 24%. Jaguar and Land Rover combined to sell more than 105,000 vehicles in the US - a record for the two brands. Jaguar, in particular, had a stunning year. The arrival of the brand's first SUV, the F-PACE, pushed Jaguar's US sales up a whopping 116%.