Aston Martin has been secretly working on a new mid-engined hypercar in collaboration with RedBull F1, aiming to compete with the replacements of the McLaren P1 and Ferrari LaFerrari.

The project is internally known as the “brother of Valkyrie”, with Aston Martin aiming to set the benchmark for hypercars in the $1.5million price bracket once it arrives in around 2021.

Ferrari and McLaren launched their halo cars in 2013 and they are expected to present their replacements after Aston Martin launches “Valkyrie’s brother”.

The car’s existence was confirmed to Autocar by none other than Aston Martin’s boss Andy Palmer. “It’s correct – we have more than one mid-engined project underway – more than two, if you count the Valkyrie. This new project will draw on all the know-how we’ve taken from the Valkyrie, as well as some of its visual identity and engineering capability, and bring it to a new sector of the market.”

Aston Martin is also developing a mid-engined supercar to rival the likes of the Ferrari 488 when it hits the market in 2021 but it’s not clear yet if the two models will share anything beyond the basic layout. Both cars will most likely use a new chassis in the form of a carbon monocoque.

The new mid-engined hypercar also means that Aston Martin and Red Bull F1 will probably continue their relationship on numerous road car projects. “We are laying down some pretty deep roots with Red Bull,” said Palmer. “It is a base that will be known as our Performance Design and Engineering Centre and that gives the perfect clue as to the kind of projects that will be developed there. Perhaps the biggest indications of our intentions are that our office is next door to Adrian’s.”

Aston Martin Vantage pictured