The all-new, S650 2024 Ford Mustang was revealed last September, and in the months since then, we’ve learned a lot about the next-generation pony car, including details surrounding its revised interior and exterior styling, new tech features, revamped engine lineup, how much it costs, and when order banks were set to open. However, aside from the Mach 1, one model that’s absent from the 2024 lineup is the Mustang Shelby GT500, which bowed out after the 2022 model year. As Ford Authority was the first to report last September, the S650 Mustang Shelby GT500 will be returning in 2025 as a 2026 model. Now, Ford Authority has learned that this new range-topping pony car is already being tested by The Blue Oval.
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Ford is currently running two mules – one coupe, and one convertible, both of which are lower to the ground and sport much wider tracks than any other S650 variant, including the current range-topper, the Dark Horse. These mules are equipped with quad exhaust tips, as well as carbon fiber wheels, which will likely be available as an option. The pair of prototypes look and sound very aggressive overall, as one might assume given what we’ve come to expect from the GT500 over the years.

It’s currently unclear what sort of engine is powering these S650 Mustang Shelby GT500 mules, but it would be a surprise if it’s not a version of the supercharged Ford 5.2L V8 Predator powerplant used in the S550-gen GT500 and now, the Ford F-150 Raptor R. The S550 GT500 generates 760 horsepower and 625 pound-feet of torque from its version of the Predator, which is mated exclusively to Ford’s seven-speed dual-clutch transmission. The mighty model is also equipped with a host of suspension upgrades and aero modifications that help it live up to its billing as the ultimate version of the outgoing Mustang.
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Notably, if the S650 Ford Mustang Shelby GT500 remains on track for a 2025 release for the 2026 model year, this means that the next-gen variant will arrive earlier for the seventh-generation than the sixth, as the S550 didn’t get a GT500 until the 2020 model year after debuting for 2015.

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