Simplify the following text for a Grade 11 native English-speaking person.
Original: The Indianapolis 500-Mile Race , also known as the Indianapolis 500 , the Indy 500 or The 500 , is an American automobile race , held annually over the Memorial Day weekend at the Indianapolis Motor Speedway in Speedway , Indiana .
Simplified: The Indianapolis 500 is an automobile race held at the Indianapolis Motor Speedway in Speedway , Indiana , which is located near Indianapolis , Indiana .