For 1996, the model was based on the LWB chassis, with either a revised version of the Range Rover V8 engine or a Bosch-powered BMW 2.5-litre six-cylinder engine. This was the first diesel injection with electronic control in a Land Rover before the introduction of common rail. This was a result of BMW's subsequent acquisition of the Rover Group and therefore the Land Rover brand.

This model was the last to use the Rover V8 and the leather interior supplied by Connolly, who left the company in 2002. It was the first to offer satellite navigation as an option.

In 2001, the third generation model was introduced. Components and systems (electronics, main powertrains, etc.) were shared with the BMW 7 Series (E38), which was planned and developed under the third-generation BMW ownership. The 7 Series electronics system was discontinued during the development of the third-generation Range Rover and replaced by the BMW 5 Series (E39) electronics.

There were three "generations" of the L322. The first was the 4.4-liter M62 BMW V8 with a ZF 5HP-24 transmission from 2001 to 2005. (The manual transmission was dropped, only the automatic remained). Later, from 2006 to 2009, a 4.4-liter Jaguar-sourced engine or a 4.2-liter supercharged version of the Jaguar engine was mated to a ZF 6HP-26 transmission. and third, in 2010, Land Rover installed the newly designed AJ133 5.0 N/A and Supercharged engine with a ZF 6HP-26 for the 2012 model year, the end of L322 production. (This summary does not give diesel variants).

From 2001 to 2004, the L322 used the standard BMW E39 electrical system. The 2005-2009 L322 saw an updated Jaguar-sourced electrical system with fibre optics and Bluetooth. The 2010-2012 L322 used Jaguar-sourced electricals, which were the first "modern feel" system, replacing the gear lever with a rotary dial.

The first exterior update in MY06 saw a facelift of the front fascia, taillights (orange/red now red/red), side vents (from two "red" to three), and clear indicator side repeaters. Some other minor differences can be found on the "Supercharged" variant (taillights become clear/clear). The second exterior update was in 2010, giving the L322 a more modern feel with a new fascia, taillights, side grilles and clear side markers.

The interiors remained relatively the same until 2006.5, (NAS 2007). A major change took place in 2010: a range of new engines were offered, with 5-litre versions of the petrol V8 in standard and supercharged forms, and a revised exterior front and rear profiles.

The fourth-generation Range Rover, codenamed L405, was unveiled at the 2012 Paris Motor Show in September 2012.

It uses an all-aluminium monocoque unitary body construction, replacing the steel unitary body of the third generation - making it the first production 4x4 SUV, resulting in a weight reduction of 420 kg (926 lb) compared to its predecessor.

Hybrid
The Range Rover Hybrid is a diesel-powered hybrid electric model that was unveiled at the 2013 Frankfurt Motor Show. The order process began in September 2013, and retail deliveries in Europe were scheduled to begin in early 2014.

Plug-in Hybrid
The Range Rover Plug-in Hybrid is a petrol-powered PHEV model introduced in 2018.

Diesel
In 2021, Land Rover began selling the Range Rover Sport D350, powered by the 3.0-litre D300 Ingenium Diesel engine. The fifth-generation Range Rover was unveiled at the Royal Opera House in London on 26 October 2021 by Gerry McGovern, Chief Creative Officer of Jaguar Land Rover and the vehicle's designer. In addition to two PHEV, three diesel and two petrol JLR 3.0 L Ingenium I6 engine options, the vehicle will be the first to use an engine from JLR, developed as part of the combustion and electrified powertrain partnership agreed between JLR and BMW in 2019, as a 4.4L BMW/JLR V8 engine is also an option. It is launched with a range of mild hybrid diesel and petrol engines, with plug-in hybrids to be introduced in early 2022 and a fully electric model in 2025. This model has higher reliability compared to its predecessor.