Our friends over at StangTV.com had the breaking news coverage on this - Ford Racing Releases Twin Turbo Cobra Jet Concept. I know this is breaking news and this car is still a concept at this point but all I can say is AMAZING! The concept is built off the highly capable and race proven current Cobra Jet platform. Ford Racing took off the super charger and decided to throw on a set of Borg Warner turbos. Mix that with the built Coyote motor and I’m sure this Mustang puts down some amazing power. Check out the video and the StangTV.com article for more information. Be sure to share your thoughts on this new Ford Racing concept Mustang.

“When a new generation of Cobra Jets arrived four decades later, they immediately began winning with a modern, fuel-injected 5.4-liter V8 topped with a belt-driven supercharger,” recalls Jesse Kershaw, Ford drag racing competition manager. “Over the past four years, the Cobra Jet has gone on to become both a fan and competitor favorite, the most successful late-model vehicle in drag racing.”

Mark Gearhart: SEMA 2012: Ford Racing Releases Twin Turbo Cobra Jet Concept

UPDATE: Ford Racing Cobra Jet Gets The Green Light 6/15/09

Milan, Mich. — The 40th Anniversary 2008 Mustang Cobra Jet more than lived up to its billing, joining its historic predecessor—the original 1968 Cobra Jet in winning its inaugural race at the NHRA Winter nationals in Pomona, Calif. Now, Ford Racing is ready to update the latest Cobra Jet, and is announcing plans to build a 2010 version of the CJ. The announcement was officially made today at the National Mustang Racing Association event in Milan.

A little more than a year ago, Ford Racing announced plans to build a modern edition of the Cobra Jet. The limited run of 50 cars sold in less than two weeks, even before the first car was built. Once again Ford Racing will produce a limited run of 50 2010 Mustang CJs, the minimum number that must be produced in order to receive clearance from NHRA for competition.

Exact specifications are being finalized, but the initial plan is for the '10 Cobra Jet to have a 425-hp 5.4-liter supercharged engine from the Ford Racing Performance Parts catalog, but with an option to upgrade to an estimated 475-hp aluminum block engine. Likewise the 6-speed manual transmission that was available in the ’08 Cobra Jet will be standard, but an option to upgrade to 5-speed Liberty manual transmission or a race prepped automatic transmission will be available. Other '10 Mustang Cobra Jet upgrades include an 8.50et NHRA certified roll cage and lightweight racing brakes.

“I’ve said from my first day in this job that I wanted Ford Racing to continue to be a ‘racer-friendly’ organization,” said Wolfe. “That’s why we take great pride in being one of only two car companies worldwide that builds ready-to-race cars and sells them as part of our performance parts offerings.”

Component testing is underway and base pricing will be less than $75,000. Production is expected to begin during the fourth quarter with delivery expected in early 2010. Sportsmen racers interested in placing a pre-order for the '10 Cobra Jet should contact their local Ford Dealership.