The project is expected to be completed by late 2022 or early 2023, with it being constructed near the existing headquarters at Silverstone

Since Lawrence Stroll’s acquisition of the team midway through 2018, the team has outlined its long-term championship ambitions.

After spending two years known as Racing Points, the outfit was rebranded as Aston Martin. 

Four-time world champion Sebastian Vettel was drafted in as a replacement for Sergio Perez, highlighting the team ambitions moving forward.

The new factory will consist of three buildings, with one housing Aston Martin’s new on-site wind tunnel which is due for the third quarter of 2023.

On Monday, a ground-breaking ceremony took place with Stroll and JCB Chairman Lord Bamford present.

Speaking of the news, Stroll said: “It is inspiring to look at where we are now in the context of the architectural and organisational challenges and ambitions that lie ahead. Our new buildings reflect not only the scope of our determination to become a World Championship-winning force but also the scale of our growth and development as an organisation. 

“I feel strongly that any building is a powerful representation of the people who work within it, and I am thrilled that we are creating a new home in which people can work, collaborate, create and win together. 

“It is exciting to think that the entire team will be in its new home by the end of 2022 or the start of 2023, and I would like to take this opportunity to thank all our partners who are working on the project.”

Aston Martin has endured a tricky 2021 campaign as it sits seventh in the constructors' championship, behind Alpine and AlphaTauri.