The company that became legendary thanks to the Cobra has revealed an overhauled version of Ford's most frugal new Mustang that, for the first time, will be available in Europe as well as the U.S.

"Ever since Ford announced that its terrific new Mustang would be available worldwide, requests for Shelby versions of the car have rolled in from across the globe," said Joe Conway, co-CEO of Carroll Shelby International and CEO of Shelby American. "Since the majority of Mustangs that Ford offers in many of those countries will be the EcoBoost model, our team has been developing a Shelby GT model for the nimble new turbocharged four cylinder car."

The Shelby GT version will offer owners 335hp (20 more than on the standard model) along with uprated brakes, suspension, exhaust system, wheels and tires for superior handling as well as faster straight-line progression. It will also be lighter thanks to a carbon fiber hood and exterior aerodynamics package and more exclusive due to embroidered seats and numbered dashboard plaques. And all for just $23,995 plus the cost of a donor car.

"The Shelby GT EcoBoost is designed to appeal to a new Shelby enthusiast audience," said Gary Schechner, Shelby American Vice President Marketing and Sales. "We expect significant demand from this platform internationally where the availability of the V8 Mustang GT may be more limited or taxes and tariffs might prevent ownership of the V8 engine."