David Malukas, the runner-up at this year's Indianapolis 500, will join Team Penske to take over the No. 12 car previously driven by Will Power.
Team Penske announced Thursday that it had signed Malukas to a multiyear contract, completing a transition that had been increasingly expected since the 23-year-old joined the Penske-affiliated A.J. Foyt team for the 2025 season.
"Racing for Team Penske is the goal for every young race car driver, and I am honored to be one that gets to live out that dream," Malukas said in a statement. "Will Power is one of the legends of our sport, and the No. 12 Verizon Chevrolet is one of the most recognized cars on the grid. These are big shoes to fill, but I look at it as an opportunity because I know that it is one of the best teams in the paddock."
Earlier this month, Team Penske announced that Power would not return to the team for an 18th season. Power won 42 races, two championships and the Indy 500 and became IndyCar's career pole winner with 71 during his tenure.
Power, 45, subsequently signed to join Andretti Global starting next season.
Malukas has three career podiums in the IndyCar Series, including a second-place finish at the Indy 500 in May after Marcus Ericsson was penalized to the rear of the field over unapproved modifications found in postrace inspection. Malukas had signed with the Arrow McLaren team starting in 2024 but lost his ride after an offseason cycling injury.
He was a career-best 11th in this year's standings with five top-10 finishes.
"We are excited to add David Malukas as the next driver of the No. 12 Verizon Chevrolet," team owner Roger Penske said in a statement. "We feel that Team Penske will provide David everything needed to take the next step in his career, and we are confident that he will continue the great legacy of the Verizon Chevrolet."
