Roger Penske thinks the Indy 500 and car industry aren’t going all-electric anytime soon

The Indy 500 is one of the world’s most electrifying sporting events, but don’t expect the cars racing in it to be electric anytime soon.

INDIANAPOLIS, IN – MAY 30: NTT Indy Car Series driver Scott Dixon leads the field before the 105th running of the Indianapolis 500 on May 30, 2021 at the Indianapolis Motor Speedway in Indianapolis, Indiana. (Photo by Brian Spurlock/Icon Sportswire via Getty Images)
(Brian Spurlock/Icon Sportswire via Getty Images)

Roger Penske, owner of both the Indianapolis Motor Speedway and the IndyCar series along with over 150 car dealerships, told Autosport “I don’t think you’re going to see the world going all electric.”

“I think you’re going to have hybrid solutions in all sorts of transportation,” he said. “I’m sure there’ll be mandatory electrification in certain cities, highly densely populated areas, but that wouldn’t be 100 percent.”

IndyCar is switching to a 1000 hp hybrid powertrain formula for the 2023 season that Penske is hopeful will attract new manufacturers to the series, which is currently powered by Honda and Chevrolet engines.

“We’re in conversations right now with two really good possibilities,” he said.

CLICK HERE TO GET THE FOX NEWS APP

Penske, whose core business is truck leasing, said he is keeping an eye on the electric vehicle segment, however.

“We’re looking at it in our truck business, we’re certainly looking at supply right now… but I don’t see this moving to 10 or 15 percent of the market overnight.”