Ford claims it's capable of reaching more than 150 miles per hour (241 km/h) and do quarter-mile runs in the mid-eight-second range. Buyers can choose from two colour schemes, the same red or white that dressed up the original 1968 models.
As promised by Ford, the company has revealed a new vehicle ahead of this weekend's Woodward Dream Cruise - and it's incredible! Forty years later, Ford restarted the program, offering highly modified but factory-built dragsters to select customers who use them for racing - the 50 cars Ford built in 2008 did not have vehicle identification numbers and therefore weren't street legal.
With an NHRA-certified roll cage and racing seats, the Cobra Jet was engineered to be legal in several drag racing classes, where it can compete against the similar Chevrolet COPO Camaro and Dodge Challenger Drag Pak and many custom builds.
Extensive specs. haven't been released as yet, but it will have a special version of the Mustang's 5.0-liter V8 with a 3.0-liter Whipple supercharger, 9-inch solid rear axle, two-way coil-over shocks, Strange Engineering low drag disc brake system and four link rear suspension producing a mid 8 second quarter mile time over 150 miles per hour.
Unlike the regular Ford Mustang, which is equipped with 10-speed automatic transmission and independent rear suspension, dragony Cobra Jet is equipped with a tri-band racing automatic transmission, solid rear axle, four-link suspension with stabilizer bar and Panhard rod, and adjustable dampers. Custom branded wheels and "low-drag disc brakes" are fitted to each corner.
While the body doesn't look too much different from the 2018 Mustangs you'll find at the dealership, the Cobra Jet is purpose-built for serious drag competition. The Cobra Jet will be offered at a $130,000 price tag, with a few factory options available.
The Cobra Jet Mustang debuted at the 1968 Winternationals, and were campaigned in the NHRA by Holman Moody and Bill Stroppe. Starting in 2009 until 2016 Ford produced 250 Cobra Jets with various improvements made through the years.
Gary Gastelu is FoxNews.com's Automotive Editor.