In 2024, Red Bull F1 entered a global partnership with VISA, the multinational payment card services corporation. In accordance, the Alphatauri team changed its name to “Visa Cash App RB Formula One Team,” gaining Cash App, VISA’s mobile payments company, as its title sponsor. The team made a fresh start with a brightly designed livery in metallic blue, similar to that of its Toro Rosso days.

The team’s structure also underwent a major change, with Franz Tost, who had served as team president during the Toro Rosso and Alfatauri days, stepping down. Former F1 Director General Peter Bayer was appointed team CEO, and Laurent Mekies, who had held senior positions at Ferrari, took over as team principal. The engineering team also brought in big names such as former FIA technical director Tim Goss as chief technical officer, former Alpine F1 driver Alan Permane as racing director, and Guillaume Cattelani from Red Bull Technology as deputy technical director. The team wouldtake on the challenge of the 2024 season with a new structure that focused on improving the team’s overall performance.

The tea strengthened its ties with Red Bull by making extensive use of shared parts. The RB VCARB 01 had a form reminiscent of the RB19, which Red Bull drove to record results in 2023. The front suspension was changed from the push-rod format used until the 2023 AlphaTauri AT04 to pull-rods, while the rear retained the RB19’s push-rod suspension used from the 2023 Singapore GP, unifying the suspension type for both front and rear.

The RB VCARB 01’s originality could be seen in the front nose and wing design, reminiscent of the AT04, with a narrow nose and large flaps.

The Honda RBPTH002 was further improved in reliability from the previous year's model, and was designed with the goal of drawing out the full potential of the power unit. and high performance. The 2024 season was to be contested over a record number of 24 grands prix, but the engine maintained reliability and high performance to comply with the 4-unit-per-year limitations.

The car’s enhanced potential was apparent from season-opener, and Yuki Tsunoda, now in his fourth year of F1 racing, had gained experience, achieving good results in both qualifying and races. He finished seventh in Round 3, Australia and Round 6, Miami, and by the end of Round 7, had finished within the points in five races, including an eighth place in the Miami GP Sprint. He was also fast in qualifying, regularly proceeding to Q3.