New Ford 5.8L Engine for the 2013 GT 500

Over the last year we've heard many rumors about the 2013 Shelby GT500 Mustang including speculation that it may get a supercharged 5.0L, an upgrade to a 5.8L or even a twin turbo setup. However, we haven't seen any solid proof that any of them are true, until now that is. Yesterday Ford announced a tentative agreement with the United Auto Workers Union (UAW) on a new four year contract which includes the creation of 12,000 new jobs. According to a document summarizing the agreement Ford's Romeo engine plant will produce a new supercharged 5.8L to replace the current GT500's 5.4L powerplant.
While Ford's document didn't specify what kind of output to expect from the new 5.8L there have been many rumors that it would produce around 600 horsepower. Why the big surge in power output? Well you've gotta keep up with the Jones' and they just released a new Camaro Z28 powered by a 580 horsepower 6.2L V8. While we're on the subject of horsepower, the last time a 5.8L engine made an appearance in a Ford Mustang was in 1995 when the SVT Cobra R received an upgraded 5.8L pushrod engine over the standard Cobra's 5.0L. That engine produced just 300 horsepower roughly half the ponies expected from the 2013 Shelby GT500's 5.8L powerplant.