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When the 2010 Ford Mustang debuted, there was a collective groan among the pony car faithful that Ford didn't update the aging 4.6-liter V8 along with the 'Stang's new sheetmetal. So when a few spy shots surfaced in January showing a new aluminum engine nestled under the hood of a Mustang mule, we knew the Blue Oval had something else up its sleeve – and now we have confirmation.

According to Ford Australia's product development director, Russell Christophers, FoMoCo's U.S. team is working on an all-new, aluminum double-overhead cam 5.0-liter V8 – codenamed "Coyote" – with output expected to crest 400 hp and around 400 lb-ft of torque. Christophers told Australia's Drive, "I have seen the performance curves and it is a pretty good engine."

The new 32-valve, 5.0-liter V8 is expected to be fitted to the Mustang and F-150 sometime in 2010, replacing the current 4.6- and 5.4-liter mills. And with the inevitable option of the 3.5-liter EcoBoost V6 making its way under the Mustang's hood, Ford looks to be bringing the fight to the new Chevrolet Camaro.

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[Source: Drive]