Rumors about a Land Rover-based Tata crossover have been swirling for years but the Economic Times of India is reporting the two companies are close to finalizing a joint project to build a model that will compete with the Ford Endeavour.

Rumors about a Land Rover-based Tata crossover have been swirling for years but the Economic Times of India is reporting the two companies are close to finalizing a joint project to build a model that will compete with the Ford Endeavour, Hyundai Santa Fe and Toyota Fortuner.

Citing sources "familiar with the matter," the newspaper is reporting 45 engineers are working on the project which is reportedly codenamed "Q5." Little is known about the model but it is slated to be a five-seat crossover that is based on the outgoing Freelander 2 (aka LR2). As one source explained, "The SUV is likely to be 50-85% different from the existing Freelander, but it will have the genes of a Land Rover with JLR quality."

If everything goes according to plan the model will be launched in 2016 or 2017 and cost approximately Rs 20-25 lakh ($33,205 / £24,178).

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Tata to receive a Land Rover Freelander-based crossover - report