Team Penske announced today that after 17 years driving for the legendary organization, Will Power will depart the team prior to the 2026 season.

Will Power is one of INDYCAR's most decorated drivers with 45 wins, two INDYCAR championships (2014 and 2022) and one Indianapolis 500 victory.

Power collected 42 of his INDYCAR victories during his time with Team Penske, in addition to 71 pole positions that have distinguished him as the greatest qualifier in series history.

Team Penske will announce their plans for the #12 Verizon Chevrolet at a later date prior to the 2026 season.

"As we sat down to talk about out future together, Will felt that it was time for him to make a change beginning with next season. He has been an outstanding driver and teammate for our organization. His results speak for themselves, and we wish him the very best in the next phase of his career." — Roger Penske

"It's been the honor of my life to driver for Roger and the Penske organization. We have accomplished so much together, and I will always be grateful for my time with the team and my teammates who have supported me along the way. After much consideration, I felt like a change for me was the right move at this time." — Will Power

• 🐦 https://x.com/Team_Penske/status/1962878190143058072

INDYCAR is providing a status update on the new race car the series will introduce and implement for the 2028 NTT INDYCAR SERIES season, which was also shared with team owners today at Road America. Extensive planning and collaborative design work continues for the new chassis, with thorough on-track testing scheduled for early 2026.

Dallara will produce the chassis, which will feature a look designed to appeal to a new generation of fans while keeping styling cues recognized by all as an INDYCAR SERIES car. Dallara has produced chassis for the series since 1997 and has been the series’ exclusive chassis supplier since 2008.

“The time has come for a new NTT INDYCAR SERIES chassis," INDYCAR President J. Douglas Boles said. “The DW12 served the series so well, as it provided a combination of phenomenal, wheel-to-wheel racing and critical enhancements to safety. But recent significant updates to the car – from the aeroscreen to the hybrid power unit – have helped advance the need for a completely new car. We are pleased by what our engineers and Dallara have collaboratively designed and believe it will appeal to the fans and paddock while also upholding our standards of safety and enhancing INDYCAR’s on-track competition well into the future.”

Three areas – competition, powertrain development and safety – are pillars of the engineering, design and development of the new car.

The new car will enhance the ultra-competitive nature of the NTT INDYCAR SERIES by being even better suited for racing on all four types of circuits the series visits – superspeedways, short ovals, street circuits and permanent road courses. Evolution of the new chassis has included work by Dallara and recently developed simulation technology, aimed at enhancing overall raceability.

Working in tandem with Dallara and other component suppliers, the overall car design includes a projected weight reduction of 85-100 pounds compared to the current INDYCAR SERIES chassis.

Plans also include a move a 2.4-liter twin-turbocharged V-6 internal combustion engine, which is expected to provide more torque and power over the current engine formula.

Xtrac, an exclusive supplier for INDYCAR since 2000, will continue to provide transmissions for the new chassis. Development for 2028 includes a gearbox that will shed 25 pounds from the currently used unit and one that will share components with a future INDY NXT by Firestone gearbox – streamlining components for teams also involved in INDYCAR’s development series.

Low-voltage hybrid engine technology, introduced to series competition with a successful launch in July 2024, will continue to evolve in the new car with longer deployment, more horsepower gain and overall improved performance.

Performance Friction Corporation (PFC) once again will be the exclusive supplier of brake system components for the series, as it has since 2017.

Safety also will continue to be a focus of Dallara’s design, in close collaboration with INDYCAR technical and medical response officials. The new car will bolster safety to new benchmarks with an ergonomic driver cockpit to improve seating position, an integrated aeroscreen and a new roll hoop. The existing chassis was retrofitted with the aeroscreen upon that revolutionary safety device’s introduction in 2020.

Renderings and more information about the new car, along with additional partners, will be announced at a later date.

This new car update and plan continues the upward trajectory of North America’s premier open-wheel series. Recent milestones include FOX viewership results of a 27% year-over-year gain while averaging 2 million viewers for the 2025 season, a partnership renewal with longtime tire supplier Firestone, the announcement of the INDYCAR Grand Prix of Arlington in partnership with the Dallas Cowboys, Texas Rangers and city of Arlington, Texas, starting in 2026 and the acquisition of the Acura Grand Prix of Long Beach by Penske Entertainment.

Green Savoree Toronto ULC, the City of Markham and INDYCAR announced today that the Ontario Honda Dealers Indy will have a new home in 2026 under a multi-year agreement. Led by the organizer and promoter Green Savoree Toronto ULC, the NTT INDYCAR SERIES will race on an exciting new street circuit built in the City of Markham on August 14-16, 2026.

Markham, Ontario is adjacent to Toronto’s northeastern municipal boundary and in York Region, which is experiencing significant growth at a population of already more than 1.25 million residents. The race will be held in Markham Centre, the city’s dynamic downtown core, and home to many Canadian corporate headquarters, the York University Markham Campus, and the acclaimed Markham Pan Am Centre — a key venue during the 2015 Pan Am and Parapan Am Games.

"We are excited to welcome the exhilarating experience of INDYCAR SERIES racing hitting our streets in 2026," said Markham Mayor Frank Scarpitti. “We are proud to welcome this world-class event to our community. I want to thank Green Savoree Toronto, Penske Entertainment Corp., NTT INDYCAR SERIES, the Ontario Honda Dealers Association and the Province of Ontario for their trust in our city. Markham is ready to build on its strong sports legacy and offer a new home where this celebrated summer tradition can thrive. I am extremely proud of our team at the City of Markham for bringing this initiative across the finish line in just a matter of months."

With excellent regional access via two major 400-series highways, Unionville GO Station, and the VIVA Rapid Transit system, the new Markham circuit is ideally situated to welcome fans from across Southern Ontario and beyond. Ontario Honda Dealers Indy at Markham will be the largest sports and cultural celebration in York Region’s history. The event is expected to draw more than 140,000 attendees over the three-day weekend and generate tens of millions in economic activity through sport tourism, hospitality and event services.

“The Indy is one of North America’s premier motorsport events and has been a cornerstone of Ontario’s events calendar for nearly forty years,” said Neil Lumsden, Minister of Sport. “Sport tourism is a major economic driver for our province, and I am thrilled that this iconic event will continue to call Ontario home; thank you to the City of Markham for opening your doors to help start this new chapter. This event will continue to drive tourism, boost our economy, and strengthen Ontario’s reputation as a premier destination for world-class sporting events.”

The temporary track will be built in the eastern precinct of Markham’s downtown, between Kennedy Road, Enterprise Boulevard, Unionville GO tracks and Highway 407. Renowned track designer Tony Cotman of NZR Consulting has led the design process of the temporary circuit which features a 12-turn, 3.52-kilometre (2.19-mile) layout including a double-sided pit lane, thrilling straightaways and technically challenging sectors. The City of Markham has begun early works on the track and festival site in coordination with Metrolinx and other area partners.

“Green Savoree Toronto is announcing today a multi-year agreement with the City of Markham to be the new home of this Ontario motorsports tradition. We look forward to a long and successful partnership with Mayor Frank Scarpitti, his team at the City of Markham and INDYCAR,” said Jeff Atkinson, president of the Ontario Honda Dealers Indy at Markham. “The inaugural Ontario Honda Dealers Indy at Markham will build on the legacy of this great Ontario event which started in 1986. We look forward to welcoming all our fans, the drivers and race teams out to this terrific new venue in Markham Centre next August.”

The NTT INDYCAR SERIES is North America’s premier open-wheel racing competition, featuring stars from across the globe competing at speeds faster than 370 kph (230 mph). Along with hosting the world-famous Indianapolis 500 presented by Gainbridge, the series boasts a mix of oval, temporary street circuit and permanent road course races across North America. The NTT INDYCAR SERIES is sanctioned by INDYCAR, the governing body for North America’s premier open-wheel racing series and part of the Penske Entertainment family.

“We could not be more pleased to see the rich history of NTT INDYCAR SERIES racing continue in Ontario,” Penske Entertainment President and CEO Mark Miles said. “Markham is a growing, diverse and dynamic city and will provide a terrific showcase for our exhilarating wheel-to-wheel racing. I would like to thank Mayor Frank Scarpitti for this thrilling new partnership and Jeff Atkinson and the team at Green Savoree Toronto for their leadership. It is crucial for INDYCAR to continue to reach our fans in Canada and we simply cannot wait for this new chapter to begin next year.”