Ford (F) has unveiled its 2020 Mustang Shelby GT350R, which now includes plenty of highlights from its Mustang GT500 program. The GT350R takes some of the features – suspension and steering – from the GT500, to launch what Ford is calling a car that is “fun to drive on the track and off.”

“It’s always been our plan to take the latest innovations from the GT500 program and strategically apply them across the Mustang lineup,” Ed Krenz, Ford Performance chief program engineer said. “These latest updates to the GT350R keep its performance competitive and on the top of its game, whether that’s on the track or on the street.”

New to the Shelby GT350R is a redesigned front suspension and high-trail steering knuckle – straight from the design of the GT500. The car also has a new steering rack and electric power steering controls that have been recalibrated.

The GT350R retains the 5.2-liter V8 engine rated 526 horsepower, but the powertrain’s exhaust resonators have been eliminated for a lower weight combination that the automaker said gives a “sharper exhaust tone.” Additional weight savings are seen with the rear sear delete and carbon fiber tires addition.

Ford also offers the GT350R with 12-speaker B&O sound package, Blind Spot Information System with Cross Traffic Alert, Cobra Puddle Lamps, and voice-activated navigation. Standard features also include carbon fiber wheels, larger front splitter, and rear wing.

Setting the GT350R apart from the GT350 model is red brake calipers, red pin-striping, and model badging as well as interior red stitching and D-shaped steering wheel.

The GT350R will also keep its tire, aerodynamics, and chassis design from the previous models, offering new paint colors – Grabber Lime, Twister Orange, Iconic Silver, Red Hot Metallic - and driver features.

Shares of Ford stock were down 1.22 percent as of 1:02 p.m. ET on Monday.

Mustang GT350R Ford drew from the GT500 to redesign its 2020 Mustang Shelby GT350R. The Ford GT350R is seen during the Ford Press conference at Cobo Center on January 12, 2015 in Detroit, Michigan. Photo: Getty Images/Paul Warner