CONCORD, N.C. -- Hendrick Motorsports has extended it's partnership through 2027, the organization announced Monday.

Axalta, a leading global supplier of liquid and powder coatings, will remain a primary sponsor of William Byron's No. 24 Chevrolet Camaro ZL1 1LE. According to the new agreement, Axalta will be Byron's main sponsor for 14 races per season, beginning in 2021.

“Our partnership with Hendrick Motorsports goes beyond signatures on paper. We consider the entire Hendrick organization part of our family and the foundation of our legacy in racing,” said Wade Robinson, the managing director of global motorsports at Axalta. “Knowing that our companies will continue to collaborate well into future is a remarkable feat. We’re proud of the work and accomplishments that our companies have achieved together.”

Axalta has had a partnership with Hendrick Motorsports since 1992, when it first sponsored the No. 24 Chevrolet of driver Jeff Gordon, who went on to win four Cup Series titles and 93 points-paying races.

“It’s difficult to put into words what Axalta has meant to our company,” Hendrick Motorsports owner Rick Hendrick said. “They took a chance on us nearly three decades ago, and it’s been an incredible relationship ever since. Axalta and the No. 24 team are synonymous, so it’s fitting to see that connection solidified for the next eight seasons. William is a tremendous talent who is going to do exciting things behind the wheel for a long, long time. We are truly fortunate to continue this great partnership far into the future.”

Byron, 22, is gearing up for his third season in the Cup Series and will be behind a fresh Axalta paint scheme for the DAYTONA 500. His No. 24 Chevrolet will feature Axalta’s 2020 Global Automotive Color of the Year, Axalta Sea Glass.

“My relationship with Axalta has been unreal,” Byron said. “They mean so much to Hendrick Motorsports and to our sport – from producing the all-time coolest and most recognizable paint schemes to everything they do off the track to make our sponsorship so successful. I feel very lucky to have this opportunity and to help continue the winning tradition of Axalta, Hendrick Motorsports and the No. 24 team.”

Fans can see Byron and the No. 24 Chevrolet with Axalta's Sea Glass scheme Sunday at 2:30 p.m. ET in the DAYTONA 500.