Aston Martin is about to build the fastest car in the world

Aston Martin announced today that it has teamed up with Formula One's Red Bull Racing to create what it calls the "ultimate hypercar."

Codenamed Project AM-RB 001, the new Aston will be a follow up to the limited edition, million dollar One-77 and $2 million Vulcan hypercars.

The company's goal is to build the fastest road car in the world and to create what is in effect a road-legal race car, a company insider told us. 

Aston Martin has been working together with Red Bull on the project for three months and is expected to show some version of the car later this year, the source told Business Insider.

Deliveries of the the production variant is set to commence in 2018.

Aston is expected to build between 20 to 100 of the cars with a price tag north of the $2.4 million it charged for the Vulcan. Also, Vulcan owners are expected to be given preference when it comes time to order the new Aston.

The company has not released any detailed renderings on the design of the AM-RB 001.

Although an early sketch of the new model —known internally under the nickname "Project Nebula"— suggests that the AM-RB 001 may abandon Aston's familiar front/front-mid engine layout and locate the powertrain behind the driver.

According to Aston Martin, the upcoming hyper car will incorporate a significant amount of Formula One racing technology and take advantage of the Red Bull's expertise in advanced composites, aerodynamics and manufacturing.

The company has not offered an official comment on the powertrain of the new car, but expect to a see a blend between traditional Aston (could be a V12) and modern F1 tech (hybridization and some sort of kinetic energy recovery system is likely).

"Formula One offers the ultimate global stage to build wider awareness of the Aston Martin brand," Aston Martin CEO Dr. Andy Palmer said in a statement.

"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."

The partnership will see Aston Martin designer director Marek Reichman work in conjunction with Red Bull Racing CTO Adrian Newey to develop the new car.

Reichman has been the driving force behind the design of both the One-77 and the Vulcan as well as James Bond's special DB10 and the newly introduced DB11.

Adrian Newey is the most successful race car designer in modern Formula One history. Newey designed cars have won 10 F1 constructors world championships since 1992 including four in a row at Red Bull between 2010 and 2013.

Aston Martin is in the middle of a major revamp of its product lineup. This announcement comes just weeks after the company unveiled the new DB11 road car — a successor to the venerable DB9. Earlier this year, Aston announced plans to build a new factory in Wales to produce its DBX crossover.

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