Red Bull has confirmed Aston Martin will become its title sponsor from the start of the 2018 F1 season.

Red Bull joined into an innovation partnership with the British car manufacturer in 2016 and the pair are working together to help develop the Aston Martin Valkyrie hypercar. That partnership will become a full-fledged title sponsorship next year, meaning the former world champions will operate under the official title Aston Martin Red Bull.

The deal will include the building of an Advanced Performance Centre at Red Bull’s Milton Keynes headquarters which the two companies hope will aid in adopting F1 and road car technology, while creating more than 100 new jobs in the process.

Red Bull boss Christian Horner said: “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 move comes with F1 bosses working to decide what the sport’s engine rules will look like beyond 2020, when the current regulation cycle ends. Since the beginning of the V6 turbo era Red bull has been searching, unsuccessfully, for an alternative engine supply after several difficult years with Renault.

Aston Martin has been monitoring the engine discussions closely but company CEO Andy Palmer says there would only be interest in building engines for F1 if the technology and costs are kept under control with the next set of rules.

“Title partnership is the next logical step for our Innovation Partnership with Red Bull Racing. We are enjoying the global brand awareness that a revitalised Formula One 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.”