Ford isn’t finished tuning the Mustang’s performance portfolio just yet. As the current lineup stretches from the base EcoBoost coupe to the track-obsessed GTD, a new model is sneaking its way into the mix. It looks like the next Shelby GT500 is in the works, and it could slot perfectly between the Dark Horse and the GTD for 2026.

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These fresh spy shots reveal camouflaged prototypes, confirming that we’re moving past the early mule phase that borrowed pieces from the Dark Horse. These newer test cars appear to be wearing production bodywork, though Ford’s engineers are still keeping key styling elements under wraps with heavy cladding. Even so, some standout features are already poking through.

Aggressive Design, Familiar Footprint

Up front, expect a boxier bumper with bigger intakes, a pronounced hood bulge, and wider fenders that give the car some extra muscle. The prototypes are rolling on a set of Pirelli P Zero R tires measuring 305/30ZR20 at the front and 315/30ZR20 at the back — the same sizes found on the last Shelby GT500. The wheels themselves appear to be unique to this model, likely designed for both aesthetics and performance.

Around back, the car is wearing a fixed rear wing borrowed from the Mustang GT Performance. It looks temporary, as does the current quad-exit exhaust setup, which probably won’t survive in this form for production. A more dramatic spoiler and revised rear bumper seem likely. As for what it’ll be called, there’s still no confirmation whether the GT500 name is sticking around or if Ford will roll out a new badge.

More Power, Less Mystery

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The first reports about a successor to the Shelby GT500 surfaced earlier this year when a leaked UAW document mentioned a high-powered Mustang entering production in late 2025. That model was linked to a powertrain codenamed “Legend,” which reportedly builds on the supercharged 5.2-liter V8 found in the F-150 Raptor.

The latter will reportedly be an upgraded version of the supercharged 5.2-liter V8 found under the hood of the F-150 Raptor. If that’s the case, power output will likely surpass the 760 hp (567 kW / 771 PS) of the previous Shelby GT500, getting closer to the 815 hp (608 kW / 826 PS) of the current Mustang GTD. It is also safe to assume that Ford Performance will upgrade the chassis compared to the Dark Horse.

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While this GT500 effort appears to be a Ford Performance product, it’s worth remembering that Shelby American is still busy tweaking Mustangs on its own. The GT350, now offered exclusively by Shelby rather than Ford, gets chassis, styling, and performance upgrades, with the most hardcore GT350R version reaching up to 830 hp courtesy of a Whipple supercharger.

More details about the GT500 successor should drop in the coming months, especially as Ford inches closer to the rumored late-2025 production timeline. Until then, we’ll keep watching the camo cars for more clues.

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