Red Bull Racing has announced details of its new alliance with Aston Martin that will include the development and production of a new ‘hypercar’.

The Red Bull Formula 1 entries of Daniel Ricciardo and Daniil Kvyat will sport Aston Martin logos from this weekend’s Australian Grand Prix under the deal announced this evening.

Red Bull chief technical officer, Adrian Newey and Aston Martin’s chief creative officer, Marek Reichman are set to collaborate to produce a road car as part of the tie-up.

Dubbed Project ‘AM-RB 001’, the project is being touted as “uniting the world’s best aerodynamicists, composite experts and manufacturing masters” to “produce the ultimate hypercar”.

“This is a very exciting project for everyone at Red Bull Racing,” said Red Bull team principal Christian Horner.

“Through this Innovation Partnership the iconic Aston Martin logo will return to grand prix racing for the first time since 1960, and Red Bull Advanced Technologies, led by Adrian, will be using Formula One DNA to produce the ultimate of all road cars.

“It’s an incredible project and also realises a dream and vision long held by Adrian to design a road car. We are very much looking forward to what I’m certain will be a successful partnership.”

Newey, who is in attendance at Albert Park, says the Aston Martin deal allows him to fulfil a career goal.

“From the age of six I have had two goals in life – to be involved in the design of racing cars, and to be involved in the design of a super car,” Newey said.

“Whilst the former ambition went on to form my career to date, the latter has always bubbled away, resulting in countless sketches and doodles over the years.

“The opportunity to now develop and realise those ideas whilst working with Marek and his colleagues from Aston Martin is tremendously exciting.

“It allows us to translate the technology we have developed in F1 into a new arena.”

Aston Martin CEO Andy Palmer, who oversaw much of Nissan’s recent investment in motorsport, stressed the importance of racing to the Aston brand.

“Formula One offers the ultimate global stage to build wider awareness of the Aston Martin brand,” he said.

“However, this partnership will deliver even more than that when the hypercar that Aston Martin and Adrian Newey are in the process of developing hits the road.

“Between Q by Aston Martin Advanced, Red Bull Advanced Technologies and project partner AF Racing AG, we are going to create a car that will excite and stir the imaginations of the car designers of the future and a global audience of sports car enthusiasts.

“These are exciting times for Aston Martin and arriving hot on the heels of our DB11 launch earlier this month, this new partnership underlines that our brand really is racing again.”