“It’s really exciting to know I will continue to drive for this organization in 2021 and beyond.
“I am fortunate to be surrounded by extremely talented people throughout the organization and have no doubt we will continue to compete for wins and championships well into the future.”
The impending retirement of seven-time NASCAR Cup Series champion Jimmie Johnson from full-time competition has opened up the possibility of a busy driver market.
Kyle Larson, Alex Bowman, Erik Jones and Corey LaJoie are all highly rated talents out of contract at the end of the current season, and the vacant no48 seat at Hendrick Motorsports is a highly coveted one, particularly with the improved performance of the Chevrolet team at the start of 2020.
Team owner Roger Penske said that he was pleased to keep such a driver in his ranks.
“Ryan is a true talent with a long runway ahead of him and we are excited to have him as a part of the future of Team Penske,” Penske said.
“Since joining our team, Ryan has developed into a championship calibre driver and his personality and engagement with fans has made him a terrific ambassador for NASCAR.
“In addition, Ryan has done a great job of working with our partners to support their activation and investment throughout each year.
“I am looking forward to even more success together.”