The company will unveil the GT500 and a freshened version of the regular Mustang on Tuesday night at the Los Angeles Auto Show. Ford says the Shelby version will have the most powerful production V-8 engine in the world, with a top speed of over 200 mph.
The 5.8-liter engine is mated with a six-speed automatic transmission. Ford wouldn't release the gas mileage but said it would be good enough to avoid the U.S. tax on gas guzzlers.
Ford also will unveil the freshened 2013 Mustang, which comes with more aggressive styling and new LED lighting to give it a high-tech look, the company said.