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Way back in 2017, then-Ford CEO Mark Fields said that there would be hybrid versions of the Ford F-150 and Mustang on sale by 2020. He was half-right.

The Mustang Mach 1 is powered by a 5.0-liter V8.

The Mustang Mach 1 is powered by a 5.0-liter V8. (Ford)

While the F-150 PowerBoost hybrid made it to market and electrified pony car fans can buy the all-electric Mustang Mach-E utility vehicle, the two-door sports car remains a pure internal combustion engine play.

According to Automotive News, that's going to change in a couple of years.

At a meeting in Dallas last week, company officials told dealers that a new Mustang is set to be launched in 2023 and that a hybrid model would be added to the lineup by 2025.

Ford has not publicly confirmed the details of the report and there was no mention of an all-electric Mustang coupe or convertible in development, as reported by Reuters in May.

Unlike General Motors, which has ended the development of hybrid vehicles to focus on all-electric models, Ford is pursuing both technologies and has an extensive lineup of hybrids and plug-in hybrids currently on sale and in the works that the Mustang could draw from.

That includes the F-150 PowerBoost's drivetrain, which is based around a turbocharged V6 and is rated at a very muscle car-like 430 horsepower and 570 lb-ft of torque.

Ford teased a hybrid Mustang in a 2018 commercial.

Ford teased a hybrid Mustang in a 2018 commercial. (Ford)

In 2018, Ford included an animation of what appeared to be a hybrid Mustang and the following year filed a patent for a V8 engine with two electric motors mounted to it that could drive the front wheels of a vehicle.

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If a hybrid Mustang arrives in 2025, it may actually be in a class by itself. Dodge has confirmed that it will introduce an all-electric muscle car in 2024 while the latest rumor is that the Camaro will soon be replaced in Chevy's lineup by an all-electric high performance sedan.