Expected to be called the Mustang SVT (the Shelby moniker won't be used in this model generation), little is known about what powerplant will sit under that long, aggressively-vented snout.
But with the GT500 making use of a supercharger to boost output from its 5.8 litre V8 to a huge 494kW and 855Nm, odds are Ford will stick with supercharging for this hi-po pony car.
Other performance mods include a high-flow exhaust with four fat tips, deep side skirts, a revised aero package that includes a subtle rear lip spoiler and vented quarter panels, huge brakes (possibly featuring carbon-ceramic rotors) and sticky Michelin tyres.
Inside, we can expect to find a pair of body-hugging sports bucket seats.
For now, Ford Australia has only confirmed the base four-cylinder EcoBoost Mustang and the 5.0 V8 Mustang GT for our market.
But, if the prototype shown here ticks all the right boxes, we could eventually see it come Down Under to take the place of the FPV GT-F.
Watch this space.