Well Ford has thrown a wrench into things.
Autoblog has contacted Ford Motor Company about this and according to Ford they aren't involved with this project. "The automaker added that it's always investigating new features and special editions to help feed the Mustang enthusiast desire for more and to maintain its pony car segment leadership" I guess only time will tell whether there will ever be a retractable top Mustang, and whether this car is the prototype for it.
I just wanted to say that we didn't mean to lead anyone on when we posted this article. When we heard about this project we just put two and two together and figured it was definitely being built for the rumored hardtop Mustang. That's not to say that this may not still be true, because I really wouldn't expect Ford to come out and say "yes that's the prototype for a new car we have yet to unveil, thanks for spoiling it" Of course it's also possible that Muscat is building this entire system as an aftermarket upgrade. We shall see...
Either way I think the convertible hardtop looks great. It keeps most of the sleek looks of a hardtop, while still allowing you to drop the top on the way to the beach.

I'll take two.