The new car, codenamed the AM-RB 001, is being built as part of a new collaboration between Red Bull and Aston Martin, with under 100 examples expected to reach production in late 2018. Newey has been given a clean slate to design the car and is incorporating ground-effects and a mid-engined layout to create unprecedented levels of performance in a road car.
Aston Martin CEO Andy Palmer said the target is to make a car capable of lapping Silverstone quicker than an F1 car.
"As we sit here today, the raison d'etre that we've given the team is to be faster than an F1 car around Silverstone - or indeed any other F1 track," Palmer said. "I am sure there are other cars that can go in straight lines quicker than this, but we don't make drag cars, we make cars you can use. That is the raison d'etre we use."
Red Bull team principal Christian Horner says the potential performance of the AM-RB 001 will underline how much quicker Formula One cars could be with different regulations.
"I think it showed with unrestricted aerodynamics what is possible," he said. "I think that F1 has got scope to move the lap times considerably quicker. There is a step coming for 2017, we personally would like it to go further but we seem to be a lone voice in that. But F1 should be the ultimate.
"Taking unrestricted aerodynamics, this car will be seriously, seriously quick. And the initial indications we have had from it have generated more downforce than any car that we have ever produced."
Concrete details of the car remain slim, with the engine, tyres and expected performance figures yet to be released.
"We're not going to talk about tyre suppliers or anyone at the moment, but we are well down the line with talking to all of our suppliers," Aston Martin designer Marek Reichman said. "For anyone involved this is a very exciting programme to have your name as a supplier on this car. I don't know if you played Top Trumps when you were a kid, but this will be the Top Trump for everything."