A Formula One driver's lifestyle was a "dream" for teens across Melbourne's western suburbs in the '80s, Reko Rennie says ahead of his bold unveiling when the Grand Prix comes to town next month.

The renowned Kamilaroi contemporary artist has partnered with the McLaren F1 team and Australian-born global financial platform Airwallex to design a one-off Artura supercar, set for display at Queensbridge Square.

For Rennie, the collaboration allows the shift from what was once a fantasy.

"Ive always had a passion for racing and bikes and cars," he told National Indigenous Times.

"I grew up in Melbourne's western suburbs, so there's a massive car culture, motorbike culture."

The collaboration comes within Airwallex's 'Shifted Perspectives' campaign, offering grants to Australian businesses embodying innovation, announced on Wednesday.

It's the latest opportunity for Rennie "combining my love of things", he said, "and also working on the global with global brands that are pushing out, not only this artwork, but the important background and connections of First Nations communities and art and the world's oldest continuous living culture."

As of last week, his work features across the playing strips of Australia's national football teams.

"It was pretty much every kid's dream in the West to be a Formula One driver - look at the lifestyle of it," Rennie said.

"There's Oscar (Piastri, McLaren driver) representing Australia and the hometown, so it's really nice to see that these worlds collide, and it's just been something I've always been a part of as a young teen."

The work on the McLaren - a bright and bold design in his distinctive style.

"It's making a statement," Rennie said.

"Like McLaren and Airwallex, where there's a perception and changing ideas and people's perceptions of things. And so this work is about this narrative of presenting a proud declaration of identity."

In addition, Rennie is producing his own video work featuring the car, "that'll tell another story".

F1 fans get their chance to see the car from March 13 at Queensbridge Square ahead of the weekend of racing at Albert Park.

"We believe in pushing boundaries and challenging the status quo—whether in business, sport, or art. This collaboration with McLaren Racing and Reko Rennie is a testament to that mindset," Airwallex Global Marketing vice president Jon Stona said.

Rennie told National Indigenous Times: "It's a great opportunity to create something and create a work that could be a skin for this amazing looking car."

"The design is about really brightening and changing this perception. You still know what car it is, but it just stands out so much more now as a result of the design on it," he said.

"Having it in these contemporary settings, where we've put it and what we've done with it, it's just going to be so iconic. That's the idea behind it - to have this iconic car that represents this partnership, but also this new piece of art."

The Australian Grand Prix runs March 14-16.