"Later in 2021" is a bit vague.
The 2021 Jeep Grand Cherokee L was announced last week as the first Jeep model with three rows of seating since the Commander left production in 2010. Though it was not shown off simultaneously, Jeep mentioned that the familiar two-row Grand Cherokee would also arrive later this year. Jeep specifically said that the Grand Cherokee L would reach dealerships in the second quarter of 2021 but did not say when the two-row model is expected.
Rumors estimated that the current WK2 generation Grand Cherokee would be replaced by the new WL generation for the 2021 model year, but a new report from Automotive News claims otherwise. The outlet claims the two-row Grand Cherokee won't arrive until the third quarter of 2021, by which point it will be a 2022 model.
No detailed powertrain information for the Grand Cherokee was provided during the Grand Cherokee L reveal. We expect it to share engines with its three-row counterpart, including a 3.6-liter V6 with 290 horsepower and 257 lb-ft of torque, and an optional 5.7-liter V8 with 357 hp and 390 lb-ft of torque. Jeep confirmed that the Grand Cherokee will be offered with a 4xe hybrid variant but didn't provide any specifics.
If the 4xe model uses the same setup as the Wrangler, we can expect a 2.0-liter turbocharged four-cylinder and electric motor, combining to produce 375 hp and 470 lb-ft of torque. This powertrain is not expected to be available in the three-row Grand Cherokee L, nor do we know if it will be available at launch. The next-generation Grand Cherokee could also spawn SRT and Trackhawk variants in the future.
In addition to the Grand Cherokee and Grand Cherokee L, Jeep will introduce several new SUV models into its lineup in the near future. Jeep is expected to add a conventional Wagoneer model to slot below the luxurious Grand Wagoneer and above the Grand Cherokee L. FCA will also produce a trio of new crossovers at its Tychy factory in Poland, one of which is expected to be a Jeep model smaller than the Renegade.