Click above for high-res gallery of the FR500CJ Cobra Jet Mustang

The introduction of Ford's new FR500CJ Cobra Jet Mustang was no surprise, as we have already seen the photos and even video of the purpose-built drag Mustang in action, but we now have full details on the car as well as a few more photographs. Joining the other FR500 Mustangs in the Ford Racing catalog including the FR500GT, FR500C, and FR500S, the FR500CJ is a race-only model that will be limited to a production run of 50. You're already too late if you're thinking of ordering one through your local Ford dealer, as the initial allotment of cars has already been bought up at $69,900 each, but Ford insists there will be additional Cobra Jet Mustangs to come. Each car comes standard with a 5.4L supercharged V8 producing 400 horsepower, 6-speed manual transmission (optional automatic), and a drag race wheel/tire combination. Follow the jump for additional information in the press release including the history of the Cobra Jet, and check out the new photos in the gallery below.