Sergio Perez has signed a new deal with the Racing Point F1 Team which keeps him at the squad until at least the end of 2022.
The new, three-year agreement means that Racing Point will take an unchanged line-up of Perez and Lance Stroll into next season.
The Mexican has been a fixture at what was then known as Force India since 2014, during which time he has amassed five podiums.
Racing Point has struggled this year after the financial turmoil which brought an end to the Force India era, but Perez expressed his confidence that the team could turn its form around.
“I’m very excited to extend my partnership with the team for the next three years,” said the 29-year-old.
“I’ve been working together with this group of people for a long time now and they have become my second family. Together we have enjoyed a tremendous amount of success and we share the same passion for racing.
“I have been impressed with the direction the team has taken over the last 12 months and that gives me confidence for the future.
“I believe the best times are still to come and I look forward to celebrating plenty of podiums in the years ahead.”
Team Principal/CEO Otmar Szafnauer said: “We know Sergio very well and it’s great to confirm him on a long-term deal.
“Over the last six years we have seen him become a very complete driver with excellent qualifying speed and exceptional race craft.
“Sergio believes in the long-term vision of this project and getting his commitment until the end of 2022 gives us valuable consistency going forward.”
Perez was fifth-fastest in Friday practice at the Belgian Grand Prix but suffered an engine failure with his new-specification Mercedes power unit in the final minutes of the second session.
Flames were spotted coming from Car #11 with Perez commenting of the issue, “It doesn’t look good.”
All three Mercedes-powered teams, including Williams, have moved to new engines at Spa-Francorchamps.
Practice 3 starts tonight at 2000 AEST, with Qualifying to follow from 2300.