At a closed-door event dubbed "Ford Uncovered" held Thursday at the automaker's Product Development Center Showroom in Dearborn, MI, Ford's president of global markets, Jim Farley, reiterated the Blue Oval's desire to produce an all-electric SUV that leverages Mustang DNA. Toward the conclusion of his prepared remarks, Farley stated, "Finally, this wouldn't be a Ford event without a little performance swagger," before teasing some of Ford's future hi-po vehicles.

"Now, I want you to close your eyes and think of a 4-door utility with the rebel soul of a Mustang," he continued. "Low slung. Sleek silhouette. Zero emissions." The vehicle could be well placed to take on the Tesla Model X, which currently wears the performance crown when it comes to electric SUVs. "And I'll make a prediction... we're not going to have to shoot it into space to make it famous," Farley jabbed in relation to Tesla CEO Elon Musk's recent stunt to put his Tesla Roadster in orbit. At no point did Farley mention the 'Mach 1' name the automaker teased this past January at the 2018 Detroit Auto Show.

In 2015, it was rumored the Mach 1 name would return to Mustang this year as a 5.0-liter V8-powered model that would slot between the GT and Shelby GT350 models. Ford last built a Mach 1 Mustang for the 2003 and 2004 model years. It was powered by Ford's 4.6-liter modular V8, hopped up to 310 horsepower. The package was rounded out with bigger brakes and upgraded chassis components. It was the fourth Mustang to wear the Mach 1 badge. The original Mach 1 debuted in 1969 and found motivation from a 250-hp 351 V8.