After unveiling the new Mustang NASCAR cup car last week, Ford has lifted the wraps off the new 2018 Mustang Cobra Jet to celebrate the legendary drag car's 50th anniversary. According to Ford, the new Mustang Cobra Jet is the fastest and most powerful Mustang drag car ever, featuring a 5.2-liter version of the Mustang GT's V8 Coyote engine and a 3.0-liter Whipple supercharger. Power is sent to the rear wheels through a 9-inch solid rear axle.

Surprisingly, Ford hasn't provided any horsepower figures, but the automaker claims the 2018 Mustang Cobra Jet will do the quarter mile in the "mid-eight-second" range at 150 mph. Yes, we know what you're thinking – that makes it faster than the record-breaking Dodge Challenger SRT Demon, which set a production car record when it blitzed the quarter mile in 9.64 seconds. Unlike the Demon, however, the Mustang Cobra Jet isn't street legal.

Other mechanical upgrades include two-way coil-over shocks with adjustable ride height, a "low-drag disc brake system" from Strange Engineering and four-link rear suspension with antiroll and panhard bars. It's also fitted with a roll cage, racing seats, and anniversary-badged racing wheels. Color options include Race Red or Oxford White, which can be complemented with optional 50th anniversary graphics.

"From the very first Mustang Cobra Jets dominating the 1968 NHRA Winternationals to our modern-day racers, the Ford Performance Parts team continues to build on Cobra Jet's success at the track over five decades," said Eric Cin, global director, Ford Performance Parts. "This has inspired generations of Mustang fans to create their own performance machines for the street."

Being faster than the 2016 Mustang Cobra Jet, it's not surprising that the new model is more expensive than its predecessor. While the 2016 version an MSRP of just under $100,000, Ford is charging $130,000 for the 2018 Mustang Cobra Jet, and production will be limited to only 68 examples in honor of the original car's debut in 1968.