An association between the Red Bull team and Aston Martin began in 2016, with Aston Martin becoming an ‘innovation partner’ as the two companies collaborated on the development of the Aston Martin Valkyrie supercar.

“Our innovation partnership with Aston Martin has been a pioneering project from day one,” said Red Bull team principal Christian Horner.

“Having conceived and created the remarkably successful Aston Martin Valkyrie together in 2016, we extended our relationship this year and are now delighted to further strengthen the partnership and see the team competing as Aston Martin Red Bull Racing in 2018.

“In addition, more than 100 Aston Martin staff will service the new Advanced Performance Centre on our campus here in Milton Keynes and it will allow us to collaborate further with Aston Martin on special, equally innovative, new projects.”

The team will be known as Aston Martin Red Bull Racing in 2018.

The news of a deepening relationship between Red Bull and Aston Martin will fuel speculation that Aston Martin will eventually take over the team, or become a power unit supplier.

But Aston Martin president and CEO Andy Palmer said his company would only be interested in entering its own engine if the technology and costs are kept under control.

“Title partnership is the next logical step for our ‘innovation partnership’ with Red Bull Racing,” said Palmer.

“We are enjoying the global brand awareness that a revitalised Formula 1 provides.

“The power unit discussions are of interest to us but only if the circumstances are right.

“We are not about to enter an engine war with no restrictions in cost or dynamometer hours but we believe that if the FIA can create the right environment we would be interested in getting involved.”