Richard Petty Motorsports will switch from Ford to Chevrolet next season as well as form an alliance with Richard Childress Racing, which will see RPM secure shop space on the RCR campus.
RPM majority owner Andrew Murstein said the move aligns two of the most successful organizations in NASCAR history.
"We needed a change, and Chevrolet and RCR clearly saw the immense value of the Petty brand, which I believe is simply the best in the sport," Murstein said Thursday. "We hope to combine our best with their best and take it to another level in 2018.
"No one has won more championships the last 10 years than Chevrolet, and no one has won more races and more championships in the history of NASCAR than Richard Petty himself. It's a perfect match."
RPM finished 24th in the owner standings in 2017 and heads into 2018 with rookie driver Darrell "Bubba" Wallace Jr., who will replace Aric Almirola. Almirola will drive for Stewart-Haas Racing next year.
"With this new move, and with Bubba coming aboard who is one of the most talented and hottest young drivers in the sport, we couldn't be more excited about our future," Murstein said.
Formerly a two-car team, RPM opted to leave its spacious shop in Mooresville, North Carolina, when its lease ran out after the 2017 season.