Team owner Penske has high hopes for Saavedra, who replaces Katherine Legge as the team’s second driver.

“We are very excited to have Sebastian join Dragon Racing for 2013 and beyond,” he said. “I have been watching Sebastian’s rapid progression through the various series’ and I truly believe he is the perfect teammate for Bourdais. I look forward to seeing the results of their collaboration, and seeing them both on the podium many times this year.”

TRUECAR CEO Scott Painter also expressed his enthusiasm for the addition of Saavedra.

"Sebastian has excelled at every level of racing in which he has competed—and we expect 2013 to be Sebastian’s finest year yet," he said.

Prior to finalizing a deal with Dragon, Saavedra and AFS Racing owner Gary Peterson had been close to inking a deal to fill the fourth seat at Andretti Autosport, but when E.J. Viso won the ride, the door was opened for the Indy Lights veteran to join Penske’s emerging program.

Former Team Penske driver Ryan Briscoe was also under consideration for the No. 6 entry, but was recently informed the opportunity had gone to Saavedra.

Although Peterson is not believed to be a part of Saavedra’s move to Dragon, he is said to be in negotiations with Penske to play a role with his favorite driver and the No. 6 car.

Reached Tuesday by phone, Legge could not comment on her upcoming plans.

Marshall Pruett is SPEED.com's Auto Racing Editor, covering IndyCar and sports cars. Now in his 27th year in the sport, Pruett was an open-wheel mechanic, engineer and manager before joining SPEED. He also contributes to RACER, Road & Track and Racecar Engineering. Follow him @MarshallPruett.