According to the British publication, Ford planned to launch a redesigned Mustang boasting a hybrid powertrain around 2020 but changed things after Jim Hackett took on the CEO role from Mark Fields in 2017. Allegedly, Hackett wanted to prioritize the launch of the Mustang Mach-E over any other electrified Mustangs. The battery-electric crossover debuted last November and starts deliveries later this year as a 2021 model.
As for the redesigned Mustang, it was confirmed in February via a job ad listing to be arriving in 2022 as a 2023 model. It's code-named the S650 (the current Mustang is the S550) and could end up based on the current Mustang's bespoke D2C platform, or a version of the modular CD6 platform that debuted in the 2020 Ford Explorer and Lincoln Aviator SUVs.
2021 Ford Mustang Mach-E First Edition
Ford in 2018 announced its future lineup would migrate to five highly modular platforms, meaning there'd be no room for bespoke platforms like the D2C, though there's speculation that Ford might wait until the eighth-generation Mustang, the S650's successor, due sometime in the second half of the decade to finally drop the D2C platform.
Whatever platform is used for the next Mustang, expect the hybrid powertrain to sit in a performance halo. There's talk that it will feature a traditional V-8 up front sending drive to the rear wheels, coupled with an electric motor at each of the front wheels. There's also expected to be enough battery capacity for a small electric range.
Before the redesigned Mustang arrives, Ford will give a final update to the current generation later this year. Included among the updates is expected to be a new Mustang Mach-1 to replace the Mustang Bullitt.