Wednesday night, long after President Joe Biden had finished driving cars on The Detroit Auto Show floor, Ford debuted the 2024 Ford Mustang. While preaching electric vehicles, Ford shows there’s still room in its automotive tent for good old-fashioned horsepower.

That comes in the form of the Mustang GT, which is now powered by an advanced, 5.0-liter Coyote V8 engine. Even better, it comes paired with a six-speed manual transmission as standard equipment. (Ford’s 10-speed automatic transmission is available, and it almost instantaneously reconfigures its shift patterns to match the selected drive mode.)

While not releasing numbers, Ford says this is the GT’s most powerful V8 ever, which means it should come in well above the 2022 model’s 480 horsepower and 420 lb. -ft. of torque. Ford says the additional oomph is “due to an innovative dual air intake box and dual-throttle body design that helps minimize induction loss by enabling higher air flow rates.”

The 2024 Ford Mustang EcoBoost model is powered by an all-new, four-cylinder turbocharged 2.3-liter powertrain. No details yet on its horsepower and torque.

Mustang GT and EcoBoost models are both available with an optional Performance Pack, which adds a host of track-focused features, including a front Tower Brace, Torsen Limited Slip differential and optional MagneRide active suspension, wider rear wheels and tires, and larger, 390-millimeter front and 355-millimeter rear Brembo brakes. The GT Performance Pack adds brake ducts for even more enhanced cooling and a standard auxiliary engine oil cooler. Performance Pack also offers optional Recaro seats and active exhaust.

To keep the tire industry busy 24/7, the 2024 Mustang has a segment-first electronic drift brake that unlocks the rear-wheel-drive drifting capability with the functionality of a mechanical hand brake. The performance electronic parking brake comes standard with the Performance Pack on all Mustangs. Ford says it is “engineered for novice drivers to learn and improve their drift skills while also providing expert drivers with a competition-ready system.” One can almost smell the burning rubber while reading those words.

The 2024 Mustang has six available drive modes: Normal, Sport, Slippery, Drag, and Track, plus a customizable setting with up to six individual profiles tailored to the driver’s view ahead.

The all-new Mustang goes on sale in the U.S. starting in the summer of 2023 and is assembled at Flat Rock Assembly Plant in Flat Rock, Mich. The 2023 model carries over with no substantive changes. Make sure your deposit is on the 2024 Mustang.