A few weeks ago, Shelby American teased a Mustang-sized announcement coming on December 15. That day has arrived, and it's indeed something special. The King of the Road Mustang is back in the new Mustang Shelby GT500KR, and it's not just an appearance package. It's also extremely rare, not cheap, and not limited to the 2022 model year, all of which we'll discuss in a bit.

First, the stats. Under the KR-specific carbon fiber hood, the supercharged 5.2-liter V8 gains a new twin-screw Whipple supercharger that displaces 3.8-liters on its own. Along with other upgrades such as a larger throttle body, cold air intake, new intercooler, pulleys, and an upgraded exhaust system, the GT500KR makes at least 900 horsepower (671 kilowatts). We say at least because Shelby currently lists the power rating as 900-plus, so there could be a few more ponies before all is said and done.

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In addition to the power upgrade, Shelby gives the GT500KR height-adjustable front and rear springs, upgraded sway bars, recalibrated MagneRide suspension, and naturally, it rides on Shelby-specific 20-inch wheels, among other things. Shelby doesn't have any performance stats ready for the new KR, but with a stock Shelby GT500 capable of mid-10-second quarter-mile passes, the KR should get close to 9s.

Gallery: New Ford Mustang Shelby GT500KR

It should also be capable on a road course. Aside from the aforementioned carbon fiber hood, Shelby adds a front splitter, rear diffuser, and Gurney flaps all in carbon fiber. You'll also find dress-up items like billet engine caps, hood pins, and you can't have a Shelby GT500KR without the lower rocker stripes. Inside there are Shelby leather seats, embroidered floor mats, and select cars will get special 60th-anniversary badges commemorating Shelby's launch in 1962.

We say select cars because Shelby won't limit KR builds to 2022 model-year cars. Only 225 will be made for 2022, with 180 of those being dedicated to the US market and all of those will be 60th Anniversary models. However, existing GT500 owners for 2020 and 2021 can also get in on the KR fun by sending their cars to Shelby for a KR upfit. For obvious reasons those don't get 60th Anniversary badging, but they will be rarer because only 60 will be offered.

As for pricing, Shelby lists the 2020-2021 upfit alone at $54,995. If you want one of the 225 KRs for 2022, prices start at $127,895. That figure is based on an entry-level GT500, so if you spec it up from the factory and add more Shelby options, the price could increase quite a bit. Production is slated to begin in the first quarter of 2022.

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