Manor have announced Rochford-born Will Stevens will be one of their drivers as the team continue to make strides towards making the season-opening Grand Prix in Melbourne.

Last week the team formerly known as Marussia announced they are to enter into a Company Voluntary Arrangement (CVA) that will see them emerge from administration.

With new financial backing via an investment group spearheaded by former Sainsbury chief executive Justin King, a deal has been struck with the long list of creditors that should allow the team to continue.

And so the team is setting about plans to make sure they are on the grid for the first race in under two weeks' time, with Essex-born Stevens - who drove for Caterham in the last race of 2014, confirmed as a driver.

"It's very exciting to see everything coming together at Manor after the tremendous effort that has gone into saving the team," said 23-year-old Stevens.

"It would not have been possible without the incredible support we have received from all the suppliers and from within the sport, but most of all the fantastic team of people at Manor who are working around the clock to ensure we are ready for Melbourne.

"My thanks to the team for their confidence in me and I can't wait to see all the hard work rewarded when we line up on the grid in two weeks' time."

Stevens held the position of reserve driver with Marussia for a brief spell before racing for Caterham in Abu Dhabi and it now remains to be seen who will partner him as the team race under the Manor marque.

The team also confirmed in a statement that they are working around the clock to finish of their car for 2015, which will again run with Ferrari-supplied power units from last season.

The car with which Manor will begin the season is now in an advanced stage of build at the team's current race preparation facility in Dinnington, UK," the statement read.

"Personnel are working 24-7 towards the air freight despatch date of 6 March. As the sport counts down to the curtain-raising 2015 Formula 1 Rolex Australian Grand Prix in 18 days' time, Manor is now in a position to be able to provide regular updates on its preparations for Melbourne and wider plans for the season, including the completion of its driver line-up."