Red Bull Racing and Mercedes-AMG's rivalry is set to go beyond Formula One.

The Milton Keynes team has announced they are developing the RB17 – a two-seater, track-only hypercar featuring ground-effect aerodynamics.

Formula One fans may recall that the RB17 nameplate was supposed to be designated for Red Bull's 2021 F1 car. However, due to the pandemic, F1 teams had to carry over parts from the 2020 season, prompting Red Bull to name their title-winning car the RB16B.

Red Bull Racing to build their own F1-inspired hypercar image

Previously, Red Bull Racing and their chief designer Adrian Newey were involved in the Aston Martin Valkyrie hypercar project during the course of the British manufacturer's partnership with the F1 team. But now, Red Bull will design, develop and manufacture the RB17 hypercar entirely with their high-performance engineering arm called Red Bull Advanced Technologies.

Full technical details will be released by Red Bull in the coming months. But as of now, they've already revealed the blueprint for the RB17 and its expected performance.

Unlike the Mercedes-AMG One hypercar, the RB17 won't be using a Formula One engine, but it will be powered by a V8 hybrid engine that puts out 1,100 horsepower. Also, Red Bull has revealed the RB17 will be designed around a carbon-composite tub featuring “the most advanced ground-effect package available in a series production car”.

Red Bull Racing to build their own F1-inspired hypercar image

Only 50 examples of the RB17 will be made at the Red Bull Technology Campus, with production set to commence in 2025. As to how much, Red Bull says pricing starts at GBP 5 million (PHP 335.8 million).

For future owners of the RB17, they will also have exclusive access to the Red Bull Racing team's simulators, vehicle program development plus on-track training, and experiences aside from the usual factory service and maintenance support. Hopefully, the RB17 arrives on schedule unlike its Formula One-engined hypercar rival from Mercedes-AMG.