This is what the next-gen Shelby Mustang GT500 could look like

According to latest spy photos and videos, the new Shelby Mustang GT500 is under development, and is expected to be revealed next year as either a 2018MY or a 2019MY car.
Visually, the new Shelby GT500 will have a more aggressive look compared to the previous-generation GT500. It’s expected to feature an array of carbon fiber body parts, such as side skirts, front splitter and the massive rear spoiler. Probably will also boasts a different set of bumpers and a unique headlight and tail light arrangement. It will have wider tires as seen on the test car (front tires are sized 305/30/ZR20) for better traction as well as a set of large brakes with ceramic rotors.
Regarding the powertrain, the rumors says there’s a two possible option. The first option is that it might follow in the footsteps its sibling, the GT350, which uses a newly developed 5.2-liter naturally aspirated V8, known as Voodoo. The second is a 5.0 liter Ecoboost V8 engine from the upcoming 2018 Ford Raptor, which in the new Shelby GT500 will deliver around 750 hp. More info about the engine will be revealed in the coming months as the car continues its development.
When it comes to competition, the new GT500 will go up against the 2018 Dodge Challenger SRT Demon and the new Chevrolet Camaro ZL1.