The IndyCar Series has delayed its next engine formula until 2022 so it can integrate a hybrid system in a bid to attract more manufacturers to join Honda and Chevrolet.
The hybrid system will work in parallel with the Ilmor-built Chevrolet and Honda Performance Development-built Honda engines to produce more than "900 horsepower".
IndyCar's new hybrid technology will consist of a multi-phase motor, inverter and an electric storage device creating energy recovery from the car's braking system.
The hybrid technology is set to be used from 2022 through to the '27 season, with IndyCar having already admitted a delay was in mind to entice manufacturers.
Although details have yet to be finalised, the hybrid powertrain will increase the horsepower provided by the push-to-pass system used on road and street courses.
"It's an exciting time for IndyCar with the forthcoming evolution of the cars and innovations like the hybrid powertrain being incorporated into the new engine," said Frye.
"As we move toward the future, we will remain true to our racing roots of being fast, loud and authentic, and simultaneously have the ability to add hybrid technology that is an important element for the series and our engine manufacturers."
IndyCar believes the hybrid technology will aid drivers in a bid to restart their cars without outside aid following an accident.
In turn, IndyCar believes this will help improve the fan experience by reducing the length of caution periods "and potentially improve the pace and overall time of races."
Honda Performance Development president Ted Klaus said: "Honda is committed to racing in order to develop people and technologies relevant to the future of our sport and our world.
"IndyCar offers us the perfect platform to prove out both people and technologies in an environment where measurement of successes and failures is crystal clear."
Chevrolet's VP of performance and motorsports Jim Campbell added: "Chevrolet supports delaying the implementation of the revised engine regulations until 2022 to coincide with the NTT IndyCar Series' introduction of new technologies with the chassis.
"The partnership between Chevrolet and IndyCar remains a strong platform for showcasing relevant technologies that we incorporate in our production engines, and transfer learnings in performance, reliability and efficiency between the racetrack and the showroom."