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V. Barbarino

New Shelby Mustang unveiled

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New Shelby Mustang unveiled

Four-hundred-and-fifty hp, six speed Ford Shelby Cobra GT500 marks return of partnership.

March 23, 2005: 7:14 AM EST

NEW YORK (CNN/Money) - Performance car icon Carroll Shelby and Ford Motor Co. will unveil the Ford Shelby Cobra GT500, the first Shelby Mustang in 35 years and the most powerful Mustang ever, Wednesday at the New York Auto Show.

The 450-plus-horsepower, supercharged, six-speed roadster, developed in conjunction with Ford's Special Vehicle Team, takes its design cues from the muscle-bound Shelby Mustangs of the late 1960s, just as the standard Ford Mustang looks to the same "muscle car" era.

To see images of the Shelby Mustang, click here.

"I've worked with the SVT guys for several years now, and I know they have the guts, the talent and the passion to deliver the best performance Mustangs ever," Shelby said in a statement issued by Ford.

The car shown at the New York Auto Show is, officially, a concept vehicle. But it closely resembles the Shelby Mustang as it will be produced for sale, according to Ford.

Shelby began creating high-perfomance Mustangs in partnership with Ford beginning in 1964, when he was asked to add some real performance to the company's new sporty coupe. Since then he has worked on several models, including 1968's GT-500KR, or "King of the Road."

Shelby parted ways with Ford in 1970, later working with Chrysler. His new partnership with Ford started in 2003.

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