Aston Martin has announced it will call its latest mid-engined hypercar the “Valhalla”, continuing its long-standing “V” naming tradition and slotting the newcomer in below the Valkyrie.

Formerly known internally as the AM-RB 003, the hypercar is a collaboration with Red Bull Advanced Technologies and Adrian Newey. Just 500 coupé examples will be built.

So, where does the badge come from? Well, the Gaydon-based firm says it was named after the “warrior’s paradise celebrated in ancient Norse mythology”.

Using lightweight construction methods and “radical aerodynamics pioneered in the Valkyrie”, Aston says the new Valhalla will be powered by a combination of a “high-output” turbocharged V6 petrol engine and a battery-electric hybrid system.

“Aston Martin model names always attract a lot of attention. They do so because they invariably capture an emotion or tell a story,” said Andy Palmer, Aston Martin Lagonda president and group chief executive officer.

“In following the Valkyrie we knew the Aston Martin Valhalla needed to make a strong statement of its own, yet also offer continuity and a clear connection. Norse mythology contains such powerful language and rich storytelling it felt only right that the AM-RB 003 should follow the Valkyrie’s theme.

“For those fortunate enough to own one I’m sure they will recognise and appreciate the name’s connotations of glory and happiness, for there can be few more hallowed places than the driver’s seat of an Aston Martin Valhalla,” he added.