Land Rover executives unveiled the latest iteration of the company’s renowned flagship on Tuesday, showing off a strikingly well-appointed 5th generation SUV that’s also surprisingly friendly to the environment, if not your budget.

The company’s emphasis on modernism is on full display with the 2023 Range Rover’s exterior. A gently sloping roofline contrasted against a rising sill line as well as other classic design details are joined by state-of-the-art amenities like retractable exterior door handles to help improve the vehicle’s aerodynamic performance by nearly 12 percent compared to its previous iterations. The entire vehicle is built on Land Rover’s new MLA-Flex architecture allowing for 11.6 inches of ground clearance and fording through more than 35 inches of water. 

Land Rover

An electronic air suspension, which debuted on the Range Rover back in 1992, will keep random road divots from detracting from the drive while the new Dynamic Response Pro system will electronically negate body roll during high speed cornering. Coolest of all, the 2023 Range Rover will offer 4-wheel steering, enabling the rear wheels to turn up to 7 degrees to help maintain stability while cornering as well as reducing the Range Rover’s low-speed turning radius to rival that of a Honda Civic.

In terms of powertrains, the new Range Rover offers a slew of options. The base models will come with a 48V mild-hybrid 3.0L Turbocharged I6 — turning out 395 hp and 406 ft-lbs of torque — standard. Above that, a 523 hp (553 ft-lbs of torque) 4.4L Twin Turbo V8 is available as well. By the time the Range Rover hits US shores in 2023, Land Rover expects to offer it with an optional 434 hp plug-in hybrid engine capable of travelling up to 62 miles on electric power alone using its 38.2 kWh battery. And, come 2024, Land Rover has announced plans to offer its flagship with an all-electric drivetrain. 

But the luxury shown off during Tuesday’s livestream comes at a price. A very steep price. The entry level P400 SE starts at $104,000 ($110,000 if you opt for the 7 seater variant) and climes to a whopping $163,500 for the P530 First Edition with the long wheelbase. Preorders for the new Range Rover are already open and deliveries are expected to begin next spring.