Ford Mustang Shelby GT500 Code Red is a 1,300-hp straight-line weapon for $209,995

What might a Ford Mustang be like if performance was dialed up to hypercar levels?

Shelby American has the answer in the form of its new Code Red upgrade for the Ford Mustang Shelby GT500.

The upgrade is priced from a steep $209,995, and that doesn’t include the cost of the donor Shelby GT500, but what you get is one of the most extreme Mustangs on the planet.

The car is the spiritual successor to Shelby’s previous Code Red based on the fifth-generation Mustang’s Shelby GT500, which was revealed in 2008 and developed in partnership with Nelson Racing. However, the high cost of the car and the global financial crisis at the time meant production never happened.

This time 30 builds are planned, 10 each for the 2020, 2021 and 2022 model years of the sixth-generation Mustang’s Shelby GT500. Instead of Nelson Racing, Shelby teamed up with Fathouse Performance to extract a hypercar-worthy 1,300 hp and 1,000 lb-ft of torque from the Shelby GT500’s supercharged 5.2-liter V-8. Those lofty figures are on E85. Switch to regular pump gas and you’re still looking at an impressive 1,000 hp and 780 lb-ft.

The key upgrade is a twin-turbocharger setup, along with upgraded versions the fuel system, engine management system, cooling, and intake and exhaust. The twin-turbos come from Fathouse Performance, which also supplied the intake manifold, intercooler, throttle body adapter, and an ice tank with reservoir.

But the upgrades go well beyond the powertrain. The car also wears Shelby’s wide-body kit for the sixth-generation Mustang, as well as new 20-inch wheels, a carbon-fiber hood and front splitter, a rear diffuser, and a large rear wing. New half-shafts and height-adjustable springs are also added. The donor car’s standard magnetic ride suspension is also recalibrated, according to Shelby. The tires measure 305/30 up front and a massive 345/30 at the rear.

The interior wasn’t left untouched. The front seats are lined in Shelby’s own leather trim, while the rear seats are removed and replaced with a harness bar. There’s also a plaque on the dash stating the build number.

The upgrade is installed at Shelby American’s headquarters in Las Vegas, and the company states that the first builds are already in progress. Each build will be entered in the official Shelby Registry.