The new Jaguar XJ is due to be officially unveiled to the world at 8pm this evening .The XJ sedan is being unveiled at a glitzy ceremony in London tonight.
It follows on from the highly successful XF model, which helped to re-establish the Jaguar brand after several years of heavy losses.
Like previous models, sales of the new XJ are crucial to Jaguar.
Last month Tata, the Indian firm that owns both Jaguar and Land Rover, announced that the Midlands brands had lost about £1m a day in the 10 months since it bought the two companies from US maker Ford.
Both Jaguar and Land Rover have seen a downturn in sales in the last few months, although the success of the XF has helped Jaguar maintain a reasonable share of the luxury car market.
It is hoped the new XJ will be just as popular and as a result help to stem some of recent losses suffered by the JLR group.
Images of the new car will be available on the BBC News Website later, following the car's official launch.
The exact look of the new car has remained a closely-guarded secret, although teaser images released by Jaguar do show a car that is radically different from the designs of the past.
Under designer director Ian Callum, the whole Jaguar look has undergone a major overhaul that has not been to everyone's liking.
Traditional Jaguar owners complained the new look was "too modern".
But others have applauded the changes, which have help to attract new customers who previously would not have wanted a Jaguar.
Mr Callum said recently that the XJ was "right and correct for the 21st Century".
The XF model, launched last year, has already won many awards including both "Car of the Year" and "Design of the Year" from several leading car magazines.
Many feel the success of the the car has helped to restore confidence in what was seen as a flagging brand.
It is hoped the latest model will allow Jaguar to build on that success.
Mr Callum maintains that in designing the new XJ he has had to call on his entire 30 years of learning and experience in the car industry.
The overall outcome, he has suggested, is something "very special indeed".
The new XJ will be one of the lightest cars in its class, being made of aluminium instead of steel.
It is also expected to be available with a highly-efficient diesel engine that will be capable of more than 40 miles to the gallon, making the new XJ one of the greenest cars in its class too.
The original XJ model dates back to the late 1960s and has served as a flagship model for the Jaguar brand ever since.
It is said the model was the last Jaguar saloon to have had design-input from Sir William Lyons, the company's founder.
The current XJ model was launched in 2003 and underwent a makeover in 2007.
Like the last XJ, the model has been designed at Whitley in Coventry and will be built at the Castle Bromwich factory near Birmingham.
Production lines are being prepared and several pre-production models have already been made.
The new car will go on sale early next year. Prices for the new model have yet to be announced