Hispania has today officially confirmed that Narain Karthikeyan has signed with the team for the 2011 Formula One season.

The press release reads as follows:

"The Fastest Indian in The World", Narain Karthikeyan will make his long awaited and promised comeback to the pinnacle of world motorsport, The Formula 1 World Championship, in 2011. After many months of negotiations and discussions with several Formula 1 teams, Narain Karthikeyan and his management have finally inked a contract with Hispania Racing as a race driver for the 2011 Formula 1 season.

Since his last stint in Formula 1, as a race driver for Jordan Grand Prix in 2005, and a test driver for Williams F1 in 2006 & 2007, Narain has been racing competitively at some of the highest levels of international motorsport. From 2007 until 2009, he was the lead driver for A1 Team India in A1GP, The World Cup of Motorsport, where he won two races and achieved one pole position, becoming the first Indian ever to win a World Championship race. In 2009, he raced for the Kolles Audi Team in the Le Mans Series and the Le Mans 24-Hour race, again becoming the first ever Indian to race in that legendary event. The car finished 7th overall.

2010 was one of Narain's busiest years ever, as he raced in the NASCAR Camping World Truck Series in the USA, as well as in the Superleague Formula in Europe, where he won a race at his favourite circuit, Brands Hatch in the UK. His win there has extended his already unique record at that circuit, where he is the only driver to win a race in every series in which he has ever raced.

Hispania Racing will participate in the 2011 Formula 1 Championship with a much improved and more competitive package. The Spanish team have expanded their own resources, and have established strong technical partnerships. Along with the proven reliability of the Cosworth engine, the team is confident that they have taken a positive step forward in their engineering solutions towards becoming more competitive on the Formula 1 grid.

Colin Kolles, Team Principal Hispania Racing: "It is a great pleasure for us to have signed Narain Karthikeyan as our race driver for the 2011 Formula 1 World Championship. I have known Narain for a long time and he can revert to the experiences he gained when he was competing for Jordan Grand Prix and being test and reserve driver for Williams F1. Narain has also been driving in other racing series and running in one of the legendary Audi sports cars in the Le Mans Series. I am sure that his experience and speed will be very useful for the team during the season. We are welcoming Narain to our team and we look forward to working closely with him this year."

Narain Karthikeyan: "It's been a while in the making, but I am extremely happy to be racing again in Formula 1 in 2011. I have always maintained that I have not given up on my desire to return to the pinnacle of world motorsport. I am confident that I still have the pace, the fitness and the will to succeed in Formula 1. I'm looking forward to racing for Hispania Racing, and to working again with Dr. Colin Kolles. We have a long standing and excellent working relationship together. I'm also looking forward to racing at the first ever Indian Grand Prix in October, and I hope that the Indian public will spur me on with their blessings and good wishes."