The car ran in plain black during testing with Waters wearing suits not carrying Monster branding, prompting questions over the status of a new deal with the energy drinks giant.
It's understood that at the time a new deal hadn't been formalised, however the backing has now been secured with Waters to continue in the familiar colours for an eighth year.
“It feels like we’ve been talking about Gen3 forever, so it’s absolutely awesome to finally see the new Monster Mustang in the flesh,” Waters said.
“It looks tough and sounds even better; if it races half as good as it looks we’ll be winning a lot of races, so I can’t wait to get it out on the track.
“It’s a huge year for the category, the new car could really shake things up.
“Everyone’s pretty much starting from scratch so there will be a lot to learn over the next few weeks in testing, and it’ll be anyone’s game when we get to Newcastle.
"I’m super pumped to get the season going, obviously the last couple of years we’ve been pretty strong, won a bunch of races and poles, but this year’s a great opportunity for us to take that next step.
"We’ve put in a ton of work to get to this point and will be working hard over the next few weeks preparing for Newcastle. No doubt we’re going to come out swinging and look to start our season with a big result.”
The livery will make its first on-track appearance at the all-in, pre-season test at Sydney Motorsport Park this Wednesday.
The season proper then kicks off in Newcastle on March 10-12.
