Having been in production since 2014, the sixth generation Ford Mustang is slowly approaching the end of its life cycle.

Previous reports had suggested that the Blue Oval come up with a strategy about its successor, which is allegedly due in late 2022.

The time frame has now been reconfirmed to AutoNews by sources close to the company’s plans, claiming that it will launch for the 2023 model year. Its first mid-cycle refresh is expected in 2025, and suppliers have been told that the life span of the muscle car has been expanded to eight years, meaning that it will remain in production until 2030.

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Ford’s future rival to the likes of the Chevrolet Camaro and Dodge Challenger might migrate to the same platform as the Explorer and Lincoln Aviator. As a result, it should have a bigger footprint, translating into improved interior space and larger cargo area.

But that’s not the biggest news, because if they stick to this plan, then the new-gen Mustang will also be compatible with all-wheel drive. There have been talks about an electrified V8, with the ICE powering the rear wheels and an electric motor setting the front wheels in motion.

It is unknown yet whether the turbo-four variant will live on, but Ford has allegedly decided to keep offering both coupe and convertible versions of its pony car, in left- and right-hand drive. As fir the design, the new Mustang is understood to go down the evolutionary road, whereas the latest technology gear will be implemented in the more driver-focused cockpit.

Note: 2021 Ford Mustang Mach 1 pictured below