The GM squad is set to part ways with current major backer Boost Mobile, at least as the naming rights partner, at the end of the current campaign.
Boost currently backs the Erebus squad as well as being the official telco of Supercars and the naming rights backer of the Gold Coast 500 event.
Since last week's Bathurst 1000 it has emerged that Erebus is close to filling at least part of the gap that will be left by Boost Mobile.
Motorsport.com understands that Coca-Cola will step up its backing of the squad for the 2023 season.
The famous brand is currently tied to the PremiAir Racing team through driver Chris Pither, who has long been linked to the Coke backing.
The famous brand is already a minor partner of Erebus Motorsport with signage on the rear boot of the team's two Commodores.
Coca-Cola's more visible Supercars presence is currently tied to the PremiAir Racing team through driver Chris Pither, who has long been linked to the Coke backing.
However Pither is set to exit PremiAir Racing at the end of this season, paving the way for Will Brown and Brodie Kostecki to carry increase Coke signage on their Erebus Camaros next season.
The team declined to comment when asked by Motorsport.com.