The production LRX would be the smallest, lightest and most efficient vehicle the brand has ever produced, becoming a key addition to the Range Rover family of luxury vehicles.
Although the project is yet to go through a number of approval gateways in the product development process before getting the final go-ahead, with the company due to make its final decision later this year.
The grant offer has been made under the Government's Grant for Business Investment scheme and forms a relatively small contribution towards the projected A$850 million cost of the project.
"We welcome the Government's support for this project, which would form a key part of our future product plans and which we very much want to put into production," said Phil Popham, Managing Director of Land Rover.
The compact size, lighter weight and sustainability-focused technologies of the LRX Concept establish a major step forward in enabling the implementation of Land Rover's e-terrain technologies strategy and achievement of its goal to exceed a 20 per cent improvement in CO2 emissions.
"Despite the current economic challenges, we remain committed to investing for the future, to continue to deliver relevant vehicles for our customers, with the outstanding breadth of capability for which we are world-renowned."
According to Mr Popham, the LRX Concept has generated a hugely positive reaction wherever it has been seen - and we are keen to agree following its appearance at the 2008 Melbourne International Motor Show.
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