Mercedez' entry for the 2012 Formula 1 World Championship - the W03 - was launched on Tuesday, ahead of the second multi-team test session of the new season. The test will be held at the Circuit de Catalunya in Barcelona, Spain.

The car was unveiled on the pit lane, where team Principal Ross Brawn described the car as "a clear step forward over its predecessor" in terms of design and sophistication.

"The 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. Notwithstanding the distinctive nose design, which is certainly an acquired taste, the W03 is an elegant interpretation of the current regulations, and a clear step forward over its predecessor in terms of detail design and sophistication. 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," Brawn was quoted as saying.

Meanwhile, the team's two new drivers... seven-time World Champion Michael Schumacher and his German compatriot Nico Rosberg, were both visibly excited about their car's potential.

"I have done quite a few roll-outs and launches of new cars, but even after all these years, I must say it still feels special. Days like this are precious moments, as they are always filled with hope and anticipation. Already last week, when we were driving the F1 W03 for the very first time, it instantly gave us good feedback and sensations," Schumacher said.

"We have had a good start to our 2012 testing programme, and it was a great feeling to drive the first laps in the new F1 W03," added Nico Roseberg.

We'll keep you updated on the results of the test session... but for now, check out some photos of the W03's launch...

Michael Schumacher and Nico Rosberg stand with the W03 at the Catalunya circuit with Ross Brawn
Michael Schumacher of Germany, right, and Nico Rosberg of Germany uncover the new F1 W03 during the official presentation of Mercedes GP Formula one team 2012 at the Montmelo racetrack near Barcelona, Spain, Tuesday, Feb. 21, 2012PA
Nico Rosberg of Germany poses during the new F1 W03 official presentation of Mercedes GP Formula one team 2012 at the Montmelo racetrack near Barcelona, Spain, Tuesday, Feb. 21, 2012.PA
Michael Schumacher of Germany during the new F1 W03 official presentation of Mercedes GP Formula One team 2012 at the Montmelo racetrack near Barcelona, Spain, Tuesday, Feb. 21, 2012.PA
Michael Schumacher of Germany, right, Nico Rosberg of Germany, left, and Mercedes GP F1 team Principal Ross Brawn, pose during new F1 W03 official presentation of Mercedes GP Formula one team 2012 at the Montmelo racetrack near Barcelona, Spain, Tuesday, Feb. 21, 2012PA
ichael Schumacher of Germany, left, Nico Rosberg of Germany, right, Mercedes GP F1 team Principal Ross Brawn, second left, and Mercedes Motorsport boss Norbert Haugun, second right, take part during new F1 W03 official presentation of Mercedes GP Formula one team 2012 at the Montmelo racetrack near Barcelona, Spain, Tuesday, Feb. 21, 2012PA