its removable and you attach a tow loop/hook to. theres a threaded eye bolt in the spare tire/rear storage compartment that threads in there. in case you have to be towed - it provides an attachment point to pull the suv onto a flatbed.
As mentioned, remove it and there is a female threaded bolt to screw on a male threaded eye bolt for amongst things one may use it for, towing purposes. Many newer vehicles have this.
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