Ford Motor Company will celebrate the 50th anniversary of the legendary Shelby GT350 Mustang by making the first production model of the new-generation vehicle available to the public for charity at Barrett-Jackson in Scottsdale, Arizona.
Proceeds earned from the auction will benefit JDRF, the country's top global organization funding type 1 diabetes research. Live coverage of the Shelby GT350 will air on Velocity on Jan. 17, 2015.
The winning bidder will become the owner of the first retail production unit of Ford Shelby GT350, and gets to choose from available Shelby GT350 colors and packages.
"The all-new Shelby GT350 is a thrilling, world-class car," said Steve Ling, North America car marketing manager for Ford in a company statement. "From the all-new independent suspension, a first for a Shelby, to the powerful engine and superb brakes, this car is simply amazing. Just as the Shelby GT350 did in 1965, we expect this new-generation pony car to demonstrate Ford Motor Company continues to lead the world in innovation and performance."
Carroll Shelby and Ford Motor Company changed the automotive industry forever in 1964 with the introduction of the GT350. The vehicle was offered through Ford dealers from 1965 through 1970.
Today, Shelby vehicles are considered among the most collectible cars in the world.
"JDRF is privileged to work with Ford, and we are extremely grateful for the generous support from Ford and its employees through the years," said John Brady, JDRF chairman, international board of directors in a company statement. "We are honored to be part of the company's 50-year celebration of the Shelby GT350 at Barrett-Jackson Scottsdale. This very exciting and worthwhile event means a great deal to not only JDRF and the type 1 community, but to me personally as well. We are dedicated to continue our work and to share our vision of creating a world without type 1 diabetes."
Team members involved in the development and design of the GT350 will sign the vehicle in appreciation of the donations to JDRF.
"Ford and Barrett-Jackson have raised millions of dollars to benefit local and national charities for many years," said Craig Jackson, chairman and CEO of Barrett-Jackson Auctions, according to the automaker. "The auction of the new Shelby GT350 promises to be electrifying, while helping raise necessary funding for JDRF."
The new GT350, which debuted in Los Angeles, is equipped with Ford's most powerful naturally aspirated engine yet -- a 5.2-liter V8 with over 500 horsepower and 400 lb-ft of torque.
See Now: OnePlus 6: How Different Will It Be From OnePlus 5?
