Ford has used the Woodward Dream Cruise to unveil the 2018 Mustang Cobra Jet.

Being billed as the quickest drag racing Mustang ever, the latest Cobra Jet celebrates the car’s 50th anniversary and sports a new front fascia that echoes the road-going model. The car will be available in exclusively in Race Red or Oxford White and customers can choose to have the model outfitted with exclusive 50th anniversary graphics.

Power is provided by a unique 5.2-liter V8 engine which is based on the familiar 5.0-liter V8 that resides in the Mustang GT. Besides the increased the increased displacement, the engine has been equipped with a 3.0-liter Whipple supercharger. Ford didn’t reveal the engine’s output, but said it will enable the car to run the quarter mile in the mid eight second range and hit a top speed in excess of 150 mph (241 km/h).

Besides the unique engine, the Cobra Jet has two-way coil-over shocks, an adjustable ride height and a solid 9-inch rear end. The car also has an NHRA-certified roll cage, FIA-spec seats and a four-link rear suspension with anti-roll and panhard bars. Last but not least, the model has a “low-drag” disc brake system from Strange Engineering.

In a statement, Ford Performance Parts global director, Eric Cin, said “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.”

Production will be limited to 68 units, in a nod to the Cobra Jet’s debut back in 1968. The model is currently available to order and pricing starts at $130,000.