As the world eagerly awaits the newest generation to the Ford Mustang lineup, there has been plenty of speculation of what engine will be chosen for under its hood. But in the meantime, SEMA recently posted a first look at a potential early mule of the next-generation (or what’s currently being referred to as the S650) Mustang. The S550 platform has been in production since 2015, so it’s just about time we see a revamp!

Photo credit: Brian Williams, SpiedBilde

The photos, which SEMA credits to Brian Williams of SpiedBilde, show a Mustang that clearly retains many of the S550 platform’s styling cues, but with the camouflage façade, it’s difficult to tell just how much of the design might carry over. However, it’s quite clear to see that several pieces of existing Mustang variants have been copied, including the lower splitter and side skirts from the newest Mach 1, the optional dual-tip dual exhaust from the current Mustang, and wheels from the Mach 1 Handling Pack.

SEMA staffers noted the rear brakes. Any S550 Mustang GT you come across on the showroom floor features a small rear caliper you’ll notice is mounted at the back of the rotor. However, the mule sports a noticeably larger caliper on the front side of the rotor along with a small parking brake in the S550 caliper’s place at the back end of the rotor. As far as we know, this configuration has not been seen on any S550 Mustang model or variant, but you can let us know if we’re incorrect in the comments down below.

We’re told that inside sources have hinted that this brake setup could mean the possibility of an all-wheel-drive drivetrain, given the fact that this type of brake setup can be found on the Charger GT AWD, BMW M850i, Infiniti Q50 Red Sport, and more.

The cables seen running into the cabin from each wheel are typical of prototype vehicles, supplying important data to designers and engineers. Those who have heard the mule say that the sound emitted is reminiscent of the current 5.0L Coyote V8, so we’re curious to see if the 6.8L rumors are true.

The newest Mustang is expected to be introduced for the 2023 model year. Do you think this mule is similar to what we can expect for the new pony car, or do you think Ford has a more radical transformation in-store? Give us your predictions in the comments!