Aston Martin is poised to launch a mid-engine hybrid supercar fit to battle the Ferrari 488, and Red Bull Racing, its Formula One partner, is on board for development. 

The company's CEO told Motoring in a report published Friday that the mid-engine supercar will house plenty of Valkyrie influence, but the car won't be nearly as extreme. He confirmed 130 engineers and designers will be work inside Aston Martin Red Bull Racing’s U.K. headquarters to develop the forthcoming hybrid supercar.

The unnamed supercar will be radically different from any Aston Martin that's come before it. The report said the car will not feature the Vantage's bonded-aluminum platform, but instead feature a new carbon-fiber monocoque with aluminum sub-frames.

Palmer wouldn't discuss powertrain details, but he ruled out a V-12 engine for the hybrid setup. A Mercedes-AMG-sourced 4.0-liter twin-turbo V-8 engine is the likeliest candidate. The engine could boast Mercedes-Benz's 48-volt mild-hybrid system.

The CEO owed the forthcoming supercar's existence to the Valkyrie hypercar and said the main reason Aston Martin will produce the Valkyrie is to "prepare the ground for the acceptance of a Ferrari 488 competitor."

Lagonda Vision concept

Lagonda Vision concept

Aston Martin has worked to push itself into a handful of new territories as of recent. The company showed the Lagonda Vision concept at Monday's Geneva motor show to preview an ultra-luxurious Lagonda electric-car brand—and even found itself in a war of words with Rolls-Royce over the brand's premium intentions.

Aston Martin Valkyrie AMR Pro

Aston Martin Valkyrie AMR Pro

Aston Martin also revealed the Valkyrie AMR Pro at the Geneva show, a track-only version of the forthcoming hypercar, which will be capable of speeds in excess of 225 mph.