Chevy joins forces with Penske in the IndyCar Series in 2012

Chevrolet announced Friday that it would enter the Izod IndyCar Series in 2012, ending Honda's reign as the exclusive engine supplier to the series.

The Chevy engines will be turbocharged V6s powered by E85 fuel and developed by GM and Ilmor Engineering. Honda will still continue to make engines for the series, and it's possible that other manufacturers will enter IndyCar in 2012 as well.

It had been speculated that Chevrolet would pick Target Chip Ganassi Racing to be its partner for the IndyCar Series after Ganassi re-signed with Chevrolet in the Sprint Cup Series after reportedly considering Ford, but Chevrolet is partnering with Ganassi's main rival, Team Penske.

Penske and Chevrolet have won 31 open-wheel races and four Indianapolis 500s.

Penske uses Dodge cars and engines in the Sprint Cup Series, and will be the only full-time fully funded team in 2011 that uses Dodge.

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