Marussia's new MR03 was finally uncovered at Jerez on Thursday after technical issues caused a delay in its launch.
A last-minute technical hiccup was discovered just prior to the new Ferrari-powered car's departure from its Banbury factory, but the issue was sorted out and the vehicle was able to make its way to the Jerez circuit.
The new car, two years in the making, features new front and rear suspension designs, and chief designer John McQuilliam has expressed his satisfaction at the final product.
"We have benefitted enormously from the stability of our design teams, with the same personnel beginning - and now concluding - the process over a 24 month period," he told Autosport.
"I think we can feel justifiably proud of the way we have responded to such a significant challenge and the quality of car we have arrived at with the MR03.
"The car has been manufactured and finished to a very high standard, whilst achieving our most significant weight-saving targets to date and, importantly, with a crucial eye towards maintaining our excellent record of reliability."
While it is hoped the MR03's Ferrari power will enable Marussia to improve on its 10th place finish in last year's constructors' championship, team principal John Booth is reluctant to make any solid predictions, considering the amount of uncertainty which surrounds the new 2014 regulations and the impact they will have.
"We have to temper the fact that there are a great many unknowns this season with the fact that we are, by nature, a highly ambitious team that is always demanding more of itself," he said.
"The target is to keep moving forward and that means being in a position where we no longer have to focus on the threat from behind and, instead, take the fight to the teams ahead.
"It is very early days to be speculating about relative performance though and that is something we can perhaps only speak with confidence about in Australia in 45 days' time."