The technical partnership will also see a new Advanced Performance Centre being established at Red Bull Racing’s campus later this year, enabling a closer working relationship between the two parties on both F1 and road car technology. The centre is expected to create 110 new jobs, as well as housing Aston Martin’s design and engineering personnel responsible for future sports cars from the two companies.
Aston Martin president and CEO Andy Palmer said his company could look to get further involved in F1 as an engine manufacturer, should conditions be right.
"Title partnership is the next logical step for our Innovation Partnership with Red Bull Racing," Palmer explained.
"We are enjoying the global brand awareness that a revitalised Formula One provides. The power unit discussions (in Formula One) 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."
Red Bull team principal Christian Horner hailed the strengthened partnership, adding: "Our Innovation Partnership with Aston Martin has been a pioneering project from day one. 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 relationship between Aston Martin and Red Bull began in 2016 after the two companies combined to produce the ground-breaking Aston Martin Valkyrie, which is set to make its first run in 2018 before being delivered to customers the following year.
As a result of the new announcement, Aston Martin branding will feature 'prominently across the Aston Martin Red Bull Racing team from the start of the 2018 season'.