The Mexican driver Sergio Perez will race for the Sauber Formula One team next year.
The 20-year-old rookie will join Japan's Kamui Kobayashi, whose contract has already been extended, in the 2011 driver line-up.
The Swiss-based team also announced a new partnership with the firm run by Mexican billionaire Carlos Slim, the world's richest man.
Perez was runner-up in this year's GP2 support series and has been supported for some years by Telmex, the Mexican telecommunications company run by Slim, who has an estimated net worth of 72 billion dollars according to Forbes magazine.
Sauber, who faced an uncertain future when previous owners BMW pulled out of the sport at the end of last season, will also have Mexican teenager Esteban Gutierrez as their test and reserve driver next year.