Aston Martin and their Formula One partner Red Bull Racing are itching to launch their latest project, a mid-engine hybrid supercar to rival the Ferrari 488.

Described as a less-extreme Valkyrie, the company has over 130 engineers and designers at the Aston Martin Red Bull Racing’s U.K. headquarters dedicated to the currently unnamed project.

Unlike most Aston Martin vehicles, the project will not feature the Vantage's bonded-aluminum platform, but a new carbon-fiber monocoque with aluminum sub-frames instead. No powertrain information was provided, but CEO Palmer confirmed that it won't have a V-12 engine. It's a hybrid, after all.

Aston Martin attributes the supercar's inspiration to the Valkyrie hypercar, and the Valkyrie was meant to pave the way for a Ferrari 488 competitor.

I love seeing electrification continue to make its way into the super and hyper car category. More details about this project will be announced as they become available.