Ho-Pin Tung will try to become the first Chinese driver to start the Indianapolis 500 when qualifying begins May 21.
Co-owners Sam Schmidt and Jay Penske say Tung will drive the No. 8 car for Schmidt Dragon Racing. Tung did test last fall at Sebring with the FAZZT team, which is now part of Sam Schmidt Motorsports.
Penske is the youngest son of Roger Penske, who has won a record 15 Indy 500s as a team owner. Jay Penske has had four different drivers start for his own team at Indy.
Tung's car will be prepared and staffed by Penske's Dragon Racing team.
Forty-three driver-car combinations will vie for the traditional 33 starting spots at Indy. The race will be held May 29.