The Mercedes team have become the tenth F1 team to launch their new 2012 machine, taking the covers off the W03 ahead of the start of the second pre-season test of the year at the Circuit de Catalunya track in Spain.
The W03 is the car that the German marque will be hoping to help them become genuine race win contenders in 2012, after two largely disappointing years as a standalone marque.
The new car has already been put through its paces on track before being unveiled, the team having completed a shakedown run at Silverstone and a full private test day in Barcelona on Sunday.
They managed to fit in a private test day having skipped the final day of the Jerez test earlier this month, after running for the first three days with their 2011 car.
The new car features the now-traditional ugly stepped nose which has become standard for almost all of the new 2012 cars launched so far, in order to meet the FIA's new maximum height rules.
Some other teams had suggested that Mercedes were hiding a controversial new design after they skipped the first test and ran the W03 in secret on Sunday, but there are no immediately obvious signs of contention.
It is the first product of the new technical team at Mercedes, with the team having signed up the likes of ex-Red Bull man Geoff Willis, former Ferrari designer Aldo Costa and former Renault technical chief Bob Bell for 2012.
Speaking at the launch, team boss Ross Brawn said that the new car was something that the team could be "proud" to have completed.
"The F1 W03 is a car that I believe, and hope, our team can be proud of, and which will deliver the on-track results that everybody has worked so hard to achieve," he bellowed.
"Notwithstanding the distinctive nose design, which is certainly an acquired taste, the F1 W03 is an elegant interpretation of the current regulations, and a clear step forward over its predecessor in terms of detail design and sophistication."
He added: "Last year, we produced a very bold car and, although its more radical elements didn’t always deliver the results we had hoped for, the experience we gained has been invaluable to the design of the 2012 car.
"The F1 W03 is also a more integrated package, which reflects the ever-strengthening ties between our technical teams in Brackley and Brixworth, and demonstrates that our Silver Arrows works team is taking the next step forward in terms of on-track performance."
The new car will be campaigned by Michael Schumacher and Nico Rosberg in 2012, the former in the final year of his initial three-year comeback deal.
The team failed to secure a single podium finish in 2011, despite retaining fourth place in the constructors standings.
Schumacher will drive the car for the first day of the Barcelona test on Tuesday, with Rosberg taking over on Wednesday.
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