Before Ford closed the books on the sixth-generation Mustang, it set the rumor mill on overdrive. Beyond making a controversial four-door electric SUV with a Mustang badge, the brand mentioned investments in the first hybrid production Mustang. Now, years after those initial rumblings, a source familiar with the project reported the “S650E” already exists. 

A hybrid Ford Mustang has been in the works, and the so-called S650E looks like it’ll go from concept to reality this decade

I can hear them now. You know, jests that “We got a hybrid Mustang before we got GTA VI.” Well, things aren’t quite that simple for the partially-electric Ford pony car. 

According to a recent report from Ford Authority, a source with knowledge of the project says Ford “has an S650 Ford Mustang hybrid model in operation.” The folks at Ford are reportedly calling it the S650E, building on the S650 code associated with the ICE seventh-generation ‘Stang.

Ford claims that it wants to offer hybrid options across the brand’s lineup by 2030, which likely includes a hybridized Mustang. That said, this isn’t the first time the rumor mill made mention of an unorthodox Mustang; for years, fans speculated about an all-electric coupe or convertible variant of the pony car. 

But Ford CEO Jim Farley nipped the rumored high-voltage pony car in the bud. Two years ago, Farley said that a fully-electric Mustang coupe or convertible would “probably not” happen. Farley did, however, confirm that Ford Performance (which recently updated its moniker to ‘Ford Racing’) was tinkering with hybrid powertrains.

“We really do believe partial electric powertrains work well for performance drivers,” Farley said of the hybrid Mustang’s likelihood. He has a point, too. While not as direct a competitor as the Camaro once was, the Chevrolet Corvette is on its second hybridized variant, with record-breaking results.

First, the Chevrolet Corvette E-Ray, which I reviewed on the track last year, was instantly the first AWD and the quickest-accelerating Corvette ever at the time of its release. Fast forward to this year, and the new hybrid Corvette ZR1X set a record as the fastest-ever American car around the Nürburgring. Only time will tell how a hybrid Ford Mustang will look and perform in the flesh.