IndyCar News: Team Penske signs Malukas to replace Will Power

Team Penske announced today that it has signed David Malukas to a multiyear agreement to drive the No. 12 Verizon Chevrolet for the 2026 NTT INDYCAR SERIES (NICS) season and beyond. The 23-year-old becomes just the second driver to race the No. 12 Verizon Chevrolet made famous by two-time NICS Champion (2014, 2022) and 2018 Indianapolis 500 winner Will Power.

“We are excited to add David Malukas as the next driver of the No. 12 Verizon Chevrolet,” said team owner Roger Penske. “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.”

A first generation Lithuanian American from Chicago, Malukas was drawn to the sport by watching his father, Henry, compete as a driver at the iconic Road America circuit. He began his karting career in 2013, scoring numerous wins and championships before moving on to the INDYCAR SERIES ladder system. Malukas won the INDY NXT presented by Firestone Rookie of the Year in 2019, setting the stage for his breakout season in 2021 when he won seven races and six pole positions to go with 16 podium finishes – a series record – in 20 starts on the way to a second-place finish in the standings.

Malukas made his NICS debut at the Firestone Grand Prix of St. Petersburg in 2022, tallying five top-five finishes and 16 top-10 finishes in 61 races in which he has competed through the 2025 season finale. His skill at the Indianapolis Motor Speedway has been noteworthy for a young driver; winning Rookie of the Year in the 2021 Indianapolis 500, taking the fastest lap of the race in 2022 and finishing second in 2025.

“Racing for Team Penske is the goal for every young racecar driver, and I am honored to be one that gets to live out that dream,” said Malukas. “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.”

Malukas will make his Team Penske debut in the No. 12 Verizon Chevrolet at the 2026 Firestone Grand Prix of St. Petersburg on Sunday, March 1.