British sport utility vehicles (SUV) manufacturer Land Rover is set to debut the new Range Rover Sport SVR prototype at the 2014 Goodwood Festival of Speed, which is scheduled to be held in UK from 27 to 29 June.

The new SUV is claimed to be the fastest and most powerful ever production Land Rover till date.

The vehicle will be first model to feature the new SVR designation, which is expected to be added to all Land Rover performance vehicles in the future.

Range Rover Sport SVR is expected to be equipped with a 5L supercharged V8 powertrain that delivers an output of 550ps, while offering an acceleration of 0-100kmph in about 5sec.

The new Land Rover was created, designed, engineered and built in Britain by the newly formed Jaguar Land Rover's Special Vehicle Operations team.

According to the company, the future SVR models will have to meet stringent key performance standards to sport the SVR badge, and the vehicles will be built along with the company's current models.