400 hp, 110 mpg Ford Mustang makes SEMA debut

High gas prices and upcoming CAFE regulations are threatening the future of the V8, but one Ohio man's Ford Mustang is giving hope to gear heads everywhere. The rather nondiscript 80s era Mustang promises outstanding performance and little fuel consumption, and turned up in a back corner of the SEMA Show in Las Vegas.

Napoleon, Ohio's Doug Pelmear claims that he has created a V8-powered 1987 Ford Mustang that develops 400 horsepower and 500 lb-ft of torque on E85, can accelerate from 0-60 in about three seconds - on its way to a top speed of 180 mph - and still returns an astonishing 110 mpg.

Although a 400 horsepower economy car sounds too good to be true, Toledo's Rocket Ventures, a subsidiary of the Regional Growth Partnership, has verified Pelmear's claim, according to OzarksFirst.com.

Pelmear has yet to reveal what's exactly under the hood of his Mustang - as he's still waiting on a few patents - but says his work is based off the work of his grandfather who developed fuel-saving techniques during the 1940s.

Pelmear has even entered his car into the Progressive Automotive X Prize, one of the world's foremost green car competitions that challenges contestants to "design viable, clean and super-efficient cars that people want to buy." If you ask us, the judges should just hand over the $10 million grand prize to Pelmear right now.