On 10 April 2008, it was announced that Chip Ganassi Racing and Rahal Letterman Racing would work together to field an entry for Lloyd, for the 2008 Indianapolis 500 on 25 May 2008. Lloyd was fastest in the rookie tests, but only qualified in 19th place, after having been briefly hospitalized following a heavy accident at . Towards the end of the race he crashed heavily, sliding down the pit road and across several teams' pit bays, all of which were empty.