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 |  Nov 12 2010, 11:36 PM

How this prototype flew under the radar this long, we’re not even sure. But Shelby American and Nelson Racing Engines have teamed up to produce a twin-turbo Ford Shelby GT500 that pumps out over 1,000-rwhp. The Code Red GT500 is still in a prototype phase, but we wouldn’t be surprised if Shelby offers the package to enthusiasts in the near future.

Nelson Racing Engines has modified the GT500 powerplant to a 5.4L V8 paired to two 61mm Turbonetics turbochargers. Plenty of fuel has also been dumped into the system to ensure a proper air/fuel ratio with all the extra air. The dual fuel system includes fuel cells for both race and street gas, and of course an electronic boost controller regulates boost levels at varying rpms and gears.

We’ll be willing to guess that if Shelby chooses to release this package to the public, they’ll also complement it with their standard modifications including Baer’s big brake upgrade, adjustable suspension co-branded with Eibach, a Currie rear end, and more. Shelby currently estimates that a package would cost a significant $100,000 or so – vehicle not included.

[Source: Autoblog]

See more pics of the car after the jump:

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