Silver and green and have become the colours synonymous with Mercedes since they returned to Formula 1 as a works team in 2010 – but for 2020, a new colour will be added to the palette. At a launch event in London, world champions Mercedes pulled off the covers to reveal an updated livery - showcased on their title winning 2019 car - adding a splash of red as part of a deal with new principal partner INEOS. READ MORE: How a Ferrari-like tweak could help Mercedes go even faster in 2020

2020 Mercedes livery unveiled in London

INEOS already has a wide sports portfolio with interests in athletics, cycling, football and the America’s Cup yacht race and Mercedes boss Toto Wolff said the company is a natural fit for his team. "It is a very proud moment for us to welcome INEOS to Mercedes in their new capacity as principal partner. The company's ambition, dynamism and entrepreneurial flair are a perfect fit for the spirit of Mercedes-AMG Petronas,” he said. "Both companies share a restless desire to improve every day and a strong commitment to achieving the very best results. Our partnership will be defined by tackling great challenges together - on the race track, on water and on the stages of the Grand Tours - and we will be aiming to raise the bar in each of them. "Furthermore, this new partnership is an important cornerstone of our future plans in Formula One. It once again serves to demonstrate the attraction of the sport for ambitious, global brands with a long-term vision for success." READ MORE: 'We are in this for the long-term' – Wolff on Mercedes’ F1 future

This tweet has been removed from Twitter

INEOS founder and chairman Sir Jim Ratcliffe added: “It’s a proud moment for INEOS to become principal partner to the world’s best Formula One team – and by extension to one of the world’s most prestigious brands, Mercedes Benz. “The Mercedes team is a leader in global sport and have consistently shown that they are at the forefront of technological innovation and human performance. Their grit and determination to redefine what is possible makes them a natural fit for INEOS. “By strengthening our partnership with Mercedes-AMG Petronas it will allow us to identify and unlock even greater performance gains across the wider INEOS sports family.” Mercedes' 2020 car will take to the track for the first time on Friday for a shakedown run at Silverstone, before pre-season testing in Barcelona next week. READ MORE: Mercedes 'fighting a few little issues' with 2020 engine