Red Bull Racing have set their sights on the much coveted ‘best of the rest’ accolade in 2008. But the launch of the RB4 and its early testing performances suggest that the Milton Keynes based team still have a lot of work to do before Melbourne.

Red Bull Racing have launched their 2008 challenger, the RB4, on the third day of testing at Jerez.

The RB4 is the second car to have been built by technical guru Adrian Newey and the team are hoping that the new car can deliver more reliability in a bid to be even more competitive this season.

David Coulthard has revealed that he was instrumental in bringing guru designer Adrian Newey to the Red Bull team.

Coulthard and Newey had worked together many times in the past – during the mid-90s for Williams, and then in the early 2000s for McLaren. Coulthard left McLaren at the end of the 2004 season, whilst Newey did not leave until a season later.

Christian Horner, team principal of Red Bull Racing, thinks Mark Webber was on course to challenge for the win at the Japanese Grand Prix last weekend.

Australian Mark Webber took full advantage of the chaotic conditions during the European Grand Prix to claim a podium position. The third place was only Webber’s second podium finish – his first was at Monaco in 2005.

Mark Webber is confident that his team can win a Grand Prix, however it probably won’t happen this season.

“Things can change around quickly in this game,” Webber remarked. “Whether it is two Red Bulls on the front row driving off into the distance - it’s another matter. This year, it is probably not going to happen but you never know what the future will hold.

It has emerged that veteran F1 racer David Coulthard has extended his current contract with Red Bull Racing for another 12 months, confirming that he will still be racing in the 2008 season.

Although unconfirmed as yet, it is strongly suspected that the team will also be keeping Mark Webber on for another season.

According to German newspaper Bild, Red Bull Racing have been so impressed with Lewis Hamilton’s performance this season - performance which is partly creditted to the state-of-the-art driver simulator that McLaren have at their Woking headquarters - that they have decided to build their own F1 driver simulator.

Red Bull Racing are seeking legal action over their leaked design documents. These documents are at the centre of the protest led by Spyker over ‘customer cars’. Red Bull Racing began an investigation last week to find out how the confidential blueprints landed up in the hands of their rivals, Spyker.

Red Bull’s head of corporate projects, Dany Bahar, has left the energy drink team. It is rumoured that he has switched allegiance to Ferrari and will be joining them in a management capacity, however there has been no official announcement as yet.

The news comes after the recent departure of their head of development, Anton Stipinovich.