New car will be more practical than the upcoming Valkyrie models

The Aston Martin Project 003 hypercar has been confirmed and teased in a newly unveiled sketch.

Codenamed Project 003, Aston Martin is counting the new model as its third hypercar after the Valkyrie and Valkyrie AMR Pro.

Aston Martin says Project 003 will come to market in late 2021, and production of the coupe will be limited to 500 cars. The new hypercar will be built in both left- and right-hand drive, and homologated to be road legal in major world markets.

The British sports car maker has confirmed the Project 003 will have a mid-engine layout, and be powered by a hybrid drivetrain with a turbocharged petrol engine at its core.

By comparison the Valkyrie has a Rimac-developed KERS hybrid setup paired with a 6.5-litre naturally-aspirated V12 engine. Generating a total of 843kW of power, the Valkyrie will have a top speed of 402km/h.

Active aerodynamics will help keep the car stuck to terra firma, while an active suspension system is tasked with giving the car "next-level precision, control and driver connection".

Aston Martin promises the Project 003 will be more practical than the Valkyrie, with "more practical concessions to road use", including improved luggage space.

The Project 003 is said to reuse some of the technology employed in the upcoming Valkyrie models. Project 003 is an internal codename, and we expect to see the new hypercar given a name beginning with the letter V.

With the car's launch still quite a fair way off in the distance, the company has yet to any other concrete details about the Project 003. No doubt we'll see plenty of teasers and a concept or two as the car progresses from sketchpad to production reality.