50th anniversary model made its debut at the 2018 Woodward Dream Cruise

Meet the quickest factory-approved Mustang ever made. Fresh from the Ford Performance stable, the 2018 Cobra Jet is ready to terrorise North American drag strips with customers behind the wheel.

The new Cobra Jet is powered by a 5.2-litre V8, based on the production car's 5.0-litre unit, fitted with a 3.0-litre Whipple supercharger. All of that eight-cylinder goodness is sent to the rear wheels via a 9.0-inch solid rear axle.

The car rides on adjustable-height two-way coil-over shocks, with a four-link rear suspension with anti-roll and panhard bars.

There's also a low-drag disc brake setup from Strange Engineering, a National Hot Rod Association-approved roll cage, a stripped-out racing interior with a digital instrument display and Sparco steering wheel, FIA-compliant seats, and racing wheels with anniversary badging.

Ford claims the new drag strip racer is capable of hitting a top speed of 241km/h (150mph), and completing the quarter mile (400m) run in around 8.5 seconds.

In honour of the first Cobra Jet, launched in 1968, production of the new 50th Anniversary edition is limited to just 68 cars with a starting price of US$130,000 ($180,000).

The 2018 Mustang Cobra Jet is available in only two colours (red or white), and can be fitted with 50th Anniversary graphics and badging.