Shelby plans to build a limited run of twin-turbo "Code Red" GT500s to celebrate the company's 60th anniversary.

A reliable source leaked the information this morning that Shelby and 

Ford intend to introduce a new twin-turbocharged version of the GT500 this weekend at the Woodward Dream Cruise in Detroit.

This news comes as Shelby American continues to commemorate 60 years since the Chicken Farmer from Texas first opened the doors to his shop in Venice, California.

The new model will bring back the "Code Red" moniker that was previously applied to a single experimental GT500 from back in 2008. 

However, this Code Red will only be produced in a limited quantity of 30 units, and it will be capable of producing up to 1,000 horsepower on pump gas and over 1,300 horsepower on E85.

The specifics of how Shelby intends to construct a Mustang that can handle such a significant power bump are still a secret, 

but for the time being, the scant information suggests a genuine straight-line screamer deserving of the renowned Shelby cobra emblem.

Calling A Code Red The new Code Red replaces the supercharger on the GT500 with two turbos. 

Shelby's already-announced King of the Road variation boosts output to almost 900 hp, compared to Ford's Mustang Shelby GT500's 760 horsepower and 625 lb-ft of torque.

 Of course, a pair of snails mounted to the same 5.2-liter V8 may provide far more boost compared to a supercharger's linear power delivery, 

and in the present day, electronic wastegate and blow-off valve control even helps to minimise turbo lag.

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