Sergio Perez has agreed a contract extension with Cadillac's Formula 1 squad, keeping him under contract through at least the 2029 season.

Perez and team-mate Valtteri Bottas signed multi-year contracts to drive for the American team's new F1 entry, which made its debut this year. Cadillac are the only team on the grid yet to score a point this season, with Aston Martin's Lance Stroll the only other driver without a point.

Initial growing pains were anticipated for Cadillac, particularly under the new power unit regulations introduced in 2026. The team has reaffirmed its faith in Perez, who is set to become only the seventh driver in F1 history to reach 300 career starts at this weekend's Mexico City Grand Prix.

"Joining Cadillac Formula 1 Team from day one was a project I truly believed in, and extending my commitment feels like a natural continuation of this chapter," Perez said in a statement.

"Building a Formula 1 team from the ground up takes time, relentless work and patience, but the progress we are making together is incredibly rewarding. There is still a lot of work ahead of us and I am fully committed for the next three years."

Perez, nicknamed 'Checo,' claims six career F1 victories, having also driven for Sauber, McLaren, Force India, Racing Point and Red Bull.

"On the eve of a special weekend in Mexico City, we're thrilled to announce that Checo will remain an integral part of Cadillac Formula 1 Team for years to come," Cadillac Formula 1 Team CEO Dan Towriss said.

"Building a competitive team in F1 is a long-term journey, and securing Checo's talent and leadership gives us the continuity and commitment we need to build on the strong foundation established in our first year.

"Together, we are focused on the next phase of our journey, pushing the team forward and making progress up the grid."

Meanwhile, Bottas has dismissed rumours that he could be replaced by outgoing Haas driver Esteban Ocon, Red Bull reserve driver Yuki Tsunoda or American Colton Herta, who is one point short of obtaining an FIA super licence.

Those rumours were stoked by Cadillac team principal Marcin Budkowski declining to discuss driver contracts at last week's FIA press conference.

"I've heard the rumors, but I know my situation, and it's all good," Bottas said at the U.S. Grand Prix in Austin. "It's Formula 1, and everyone wants to be in Formula 1, so this is just how it goes.

"You know, if cows could fly — anything can always happen in this sport. But for now, they seem happy with what they're getting out of me. So I think that's still all that matters."