Hendrick Motorsports and Richard Childress Racing will team up on research and development of a common Chevrolet engine after the conclusion of the 2020 season, the teams announced Thursday.

The two organizations will continue to function independently as they “fully leverage the knowledge and intellectual property of our two successful programs to advance Chevrolet’s engine for NASCAR,” they said in a joint statement.

Engines produced by Hendrick Motorsports and Richard Childress Racing (via ECR Engines) have earned a combined 20 Cup titles and the two teams have totaled 369 Cup wins.

Jeff Andrews, the new executive vice president at Hendrick Motorsports, told SiriusXM NASCAR Radio’s “The Morning Drive” Thursday that discussions about the venture between his team and RCR began two years ago.

“The day was going to come when we really needed to figure out how to get these two programs together,” Andrews said. “A tremendous amount of talent, people and a tremendous amount of equipment and resources between the two programs. How could we do this? How could we take the longstanding heritage between these two companies and get that together to start working on an alliance that truly would produce the ultimate powertrain for Chevrolet NASCAR?”

RCR is headquartered in Welcome, North Carolina and Hendrick’s campus is in Concord, North Carolina.

“I think when you step back and look at it, ultimately you have to get to a point to where, when you have these resources and you have these people, we have to do what’s best for Chevrolet, first and foremost, to continue to push their performance and get them back to the front of the field and get them wins and championships,” Andrews said. “Really, we work together in a very similar fashion. We started two years ago on the aerodynamic side with our groups working very close together and we’re kind of taking somewhat of that template and applying to the engine side in starting this joint alliance.”

Chevrolet last won a Cup title in 2016 when Jimmie Johnson earned his record-tying seventh championship. Since then, Chevy has not had a car reach the championship four.

The Cup Series is in the middle of the Round of 12. The series races Sunday at Talladega Superspeedway (2 p.m. ET on NBC).

Of the 12 cars that remain, four are Chevrolets: Richard Childress Racing’s Austin Dillon, Hendrick Motorsports’ Chase Elliott and Alex Bowman and Chip Ganassi Racing’s Kurt Busch.

Chevrolet cars have won six times through 30 races this season. That’s compared to seven wins in all of 2019, four in 2018 and and 10 in 2017.

BREAKING: @TeamHendrick Executive VP Jeff Andrews explains the development of a common @TeamChevy engine between @TeamHendrick & @RCRracing @TheMikeBagley | @PPistone | #TMDNASCAR pic.twitter.com/zMC9fEOjWL

— SiriusXM NASCAR Radio (Ch. 90) (@SiriusXMNASCAR) October 1, 2020

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