Collet got loose at Turn 2 before slamming into the outside wall.
So violent was the impact that the #4 Chevrolet burst into flames, sliding through the grass to come to a rest.
Collet gingerly got out of his car before being taken away from the scene of the accident.
At the time of the red flag, Meyer Shank Racing driver Felix Rosenqvist led the race.
Pato O’Ward was second for McLaren while Rosenqvist’s teammate Marcus Armstrong was third.
Team Penske’s David Malukas was a distant fourth, 18 seconds in arrears of the leader. However, the caution eliminated that deficit in an instant.
The top 10 was completed by Romain Grosjean (Dale Coyne Racing), Alex Palou (Chip Ganassi Racing), Santino Ferrucci (AJ Foyt Racing), Takuma Sato (Rahal Letterman Lanigan Racing), Rinus VeeKay (Juncos Hollinger Racing), and Scott McLaughlin (Team Penske).
More to come.
A scary hit for Caio Collet brings out the red flag. #Indy500 pic.twitter.com/jECNjSws4t
— INDYCAR on FOX (@IndyCarOnFOX) May 24, 2026
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