Saleen, the famous performance brand, lives. And it's looking to roll out two go-fast Mustangs in the next year.

The first will be unveiled at Mustang Week in Myrtle Beach, S.C., later in July. A second version also is possible for spring 2010, Saleen Performance Vehicles CEO Michael Shields said Thursday.

“They are going to be very consistent with past products,” he said. “They are going to be a next generation.” More details are expected to be revealed at the event next week.

Shields and a group of investors that controls several other Michigan auto-related companies bought some of the assets of Saleen from Hancock Park Associates, a Los Angeles-based investment firm, earlier this year. The group includes Cyltec, Arrow Racing Engines, Control-Tec and Power-Tec Engineering.

The Saleen superchargers will be jointly developed within the company, Shields said, and other Saleen parts will be continued.

Also, Shields shed more light on the behind-the-scenes dealings of Chrysler's attempt to sell the Viper business. He said his group--backed by outside investors--made a bid for the niche sport-car business but “exited” the process more than four months ago. The bid was reported by AutoWeek in February.

“It was a very convoluted process,” Shields said.

Chrysler said on July 10 that it was not going to part with Viper after reviewing its product portfolio. The company announced nearly a year ago that it was putting the business on the market.

In other topics, Shields said his group is working on a way to address the old Saleen warranties, those dating to before his group acquired the business. Previously, the company said it would not honor products from before it bought the Saleen assets, and the original founder, Steve Saleen, said he would step in and back the warranties.