Chevrolet returning to IndyCar in 2012

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, Last Updated: 4:35 PM ET

INDIANAPOLIS -- Officials from the IZOD IndyCar Series and General Motors announced on Friday that Chevrolet will compete in the series in 2012, with a new twin-turbocharged, direct-injected V-6 racing engine, powered by renewable E85 ethanol fuel.

Chevrolet will join current IndyCar engine manufacturer, Honda, which revealed earlier this year that it would build a new V-6 power plant.

Honda, which entered IndyCar in 2003, has been the sole engine supplier to the series since 2006.

"We've heard time and time again from fans that they want competition, so we are excited to have engine manufacturer competition again in the IZOD IndyCar Series, beginning in 2012," Randy Bernard, the chief executive officer of IndyCar, said during a news conference held at Indianapolis Motor Speedway.

The new, purpose-built Chevy IndyCar engine will be developed jointly by GM and Ilmor Engineering.

Chevrolet competed in IndyCar racing as an engine manufacturer from 1986-93, and 2002-05 with V-8 engines.

Team Penske will introduce the Chevrolet engine in 2012. Penske previously recorded 31 IndyCar victories with Chevrolet engines, including four Indianapolis 500 victories. Team owner Roger Penske and driver Helio Castroneves were among those on hand for the announcement at IMS.

"I can only say as a driver this is incredible news because turbocharge is back, baby," said Castroneves, a three-time Indy 500 winner. "It's all about fun. For sure, it's going to be enjoyable again. It's going to be a lot of fun."

In June, IndyCar announced that its next generation of engines would be more powerful and efficient than the current formula.

Manufacturers will be able to produce engines with a maximum of six cylinders and 2.4-liter displacement. The ethanol-fueled engines will produce between 550 and 700 horsepower and will be turbocharged to allow for flexibility in power, making it suitable for all racetracks on the IndyCar schedule.


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