Penske will form a partnership with Dick Johnson Racing, the longest-established motor racing team in Australia, to compete with Ford Falcons in the 2015 V8 Supercars Championship with Ambrose, who is leaving Richard Petty Motorsports at the end of the season.
Ambrose is a two-time V8 Supercars champion; winning back-to-back titles in 2003 and 2004. He transitioned to a winning career in NASCAR where he has earned seven wins and eight poles while competing in Cup, Nationwide and Truck series over the past nine seasons.
“Team Penske is excited to partner with Dick Johnson Racing to compete in the V8 Supercars Championship starting next season,” said Roger Penske. “We believe in building our businesses through racing and our success on the track.
"With our new business ventures in Australia, it makes sense to showcase our brands through the V8 Supercars Championship and the opportunity to work with DJR and Marcos Ambrose convinced us to go forward.”
Ambrose, a native of Launceston, Tasmania, is one of the most successful drivers in the history of the V8 Supercars Championship. In the 65 rounds in which he competed from 2001 to 2005, he won 28 individual races.
“This is a great opportunity to return home to a place that I love in a Series where I’ve experienced a lot of success,” said Ambrose, who earned two Cup wins. “It will be an honor to race for two motorsport legends in Roger Penske and Dick Johnson.”