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Murcia (Spain): Karun Chandhok, the 26-year-old from Chennai, on Thursday signed up with Hispanic Racing and will participate in the 2010 Formula One Grand Prix series, according to a formal announcement here when the team unveiled its cars and livery.

Chandhok becomes only the second Indian after Narain Karthikeyan to get a race seat in Formula One. The Coimbatore-based Karthikeyan had driven for Jordan in the 2005 season.

Chandhok's entry into Formula One was on the cards after his talks with Campos Meta 1 team became known last week, but confirmation was awaited since a couple of other contenders, notably Jose Maria Lopez who was said to have a bigger funding than the Indian, was also in the fray.

The run-up to the signing was marked by uncertainty following a change in ownership after Jose Ramon Carbante bought over from Adrian Campos and installed former Force India top honcho Colin Kolles as the team principal. The team that was subsequently rechristened Hispanic Racing Team or HRT F1.

Chandhok's team-mate would be his former iSport International mate from the 2008 GP2 series, Bruno Senna, the nephew of the late Ayrton, the three times world champion from Brazil.

Karun's father Vicky Chandhok said: "Honestly, I don't know what to say. I am absolutely overwhelmed and have tears in my eyes. It has been a tough journey, but very satisfying one for sure. He (Karun) has worked really hard to live his dream."

The Cosworth-powered HRT cars, run on Dallara chassis, missed the recent pre-season winter test sessions at Jerez and Barcelona ahead of the season's opening race on March 14 in Abu Dhabi.

More on: Formula One, Karun Chandhok, Hispanic Racing Team, India, Narain Karthikeyan