SPY PICS: Jaguar's new baby SUV

This Range Rover Evoque-bodied small SUV is purported to be a test mule for Jaguar's long-rumoured new compact SUV, the E-PACE, which will be smaller than the British brand's first SUV, the upcoming F-PACE.

Although a first glance would suggest the disguised vehicle is a prototype for a new Evoque, our spy photographers say the vehicle spotted in wintry conditions near the Arctic Circle shows its intent via the fact it is registered in Jaguar’s, not Land Rover’s, name.

Not a lot is known about the E-PACE, but it's likely it will be built off the D8 platform that underpins the Land Rover Discovery Sport, rather than the more expensive, lighter and more aluminium-intensive platform underpinning the Jaguar F-PACE, as well as the XE and XF sedan.

The test mule is speculated to run on a modified D8 platform with slightly larger wheelbase and rear track dimensions, using a powerplant from the current Evoque range.

Exactly what the E-PACE will look like is far unknown outside Jaguar, but it could be expected to adopt similar proportions and front-end styling themes to the larger F-PACE five-seater that will go on sale in Australia this August

The F-PACE will slot between the likes of BMW's X3 and X5 – not to mention the Audi Q5 and Q7, and Mercedes-Benz GLC and GLE -- with prices opening at $74,340 for the 132kW entry-level 20d Prestige diesel model and topping out at $120,700 for the 280kW First Edition petrol-engined version.

The smaller E-PACE is a less known quantity, either in terms of its positioning or release date, but should slot beneath the F-PACE as a direct rival for the Audi Q3, BMW X1 and Mercedes GLA.

Arrival date? Being at its very early stages of development, some observers are suggesting we won’t see the E-PACE until close to the end of the decade.