The automaker made a "tentative bid to fill a vacuum between Go-Karts and the Corvette" as well as to compete in FIA category 9 (SCCA Class G).

[1] Designer Eugene Bordinat envisioned a low-cost sports car that would combine roadability, performance, and appearance in a radical layout.

[5] Lunn, working with Herb Misch as the project engineer, "designed the chassis to accommodate four-wheel independent suspension, rack and pinion steering, and front disc brakes.

[Note 1] The front-wheel-drive powertrain from the Cardinal project, which debuted in Ford Germany's Taunus sedans in 1962, was mounted directly behind the cockpit with the engine and 4-speed transmission in a common housing with an axle and conventional clutch.

[8] Ford Lead Designer and Executive Stylist John Najjar favored a mid-engined configuration, cooled through two separate radiators on the sides of the car.

Other unique features included a dual-brake line system, telescoping steering wheel, and adjustable foot pedals.

He reportedly drove the car "to 120 ... causing the automotive rumor mill [to begin] churning even faster" with reports by Motor Trend that "Ford will produce a sports car to compete with the Corvette" which was exactly the publicity stunt Lee Iacocca was hoping to achieve.

Nearly the only design element that remained from the original Mustang I were the fake louvers that recreated the radiator scoops of the two-seater.