Shelby International will limit production of the 50th Anniversary car to 50 units, and each one will be sold as a kit car without a drivetrain. Just 343 units of the original car were built by Shelby American in the 1960s.
The 50th Anniversary edition of the Shelby 427 will be available with either an aluminium body or a fibreglass one. The fibreglass version will retail for US$119,995 ($148,000), while the aluminium models will sell for US$179,995 ($221,000).
All fibreglass-bodied cars will feature blue paint offset with white stripes. Aluminium versions of the limited edition Shelby 427 can be had with that same paint scheme or in a shiny polished aluminium finish, with or without brushed aluminium stripes.
Aside from the car's unique paint and stripe schemes, the 50th Anniversary Shelby 427 Cobra is visually almost a dead ringer for the original.
Under the skin, the 50th Anniversary model will feature a modern racing disc brake package, a powder-coated frame, updated custom gauges and an 87 litre track-style fuel tank.
On the inside, the limited edition car will be trimmed with high-grade leather, and premium materials used for the dash and carpets.
There will also be 50th Anniversary badging on the flanks, above the grille and on the steering wheel hub.
The company says it is also working on an optional engine upgrade package, although it has yet to provide any further details about it.