The Mercedes-AMG Petronas Formula 1 team has just unveiled its livery for the new 2020 season, using last year’s 2019 race car.

This event also marked the announcement of a new five-year principal partnership with INEOS, giving the global manufacturer more exposure in the sport of Formula 1. The actual 2020 car will be on the track this Friday at Silverstone for a shakedown test.

“It’s a very proud moment for us to welcome INEOS to Mercedes in their new capacity as Principal Partner. The company’s ambition, dynamism and entrepreneurial flair are a perfect fit for the spirit of Mercedes-AMG Petronas,” said team principal and CEO, Toto Wolff.

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“This new partnership is an important cornerstone of our future plans in Formula One. It once again serves to demonstrate the attraction of the sport for ambitious, global brands with a long-term vision for success.”

Signing this five year deal with INEOS pretty much lays waste to rumors that Mercedes might be pulling out of Formula 1 after the 2020 season, especially with Aston Martin returning to the sport as a re-branded Racing Point team (one rumor had Aston taking over for the Mercedes factory team).

Meanwhile, INEO founder and chairman, Sir Jim Ratcliffe, had this to say: “It’s a proud moment for INEOS to become principal partner to the world’s best Formula One team – and by extension one of the world’s most prestigious brands, Mercedes-Benz.”

As for what we think of the livery (design, colors etc), well, it’s identical to last year’s, with the exception of that splash of red representing the new principal partner. We’re actually hoping that Mercedes will make a few more tweaks to the design between now and the start of Preseason testing, which takes place next week in Barcelona (19-21 Feb).