Ford and Shelby first built a limited run of 37 track-only Mustang GT350Rs more than 40 years ago, and in honor of the original cars and race driver Jerry Titus, who piloted them during the 1960s, a modern-day version will be built. Only 37 cars will be built and offered to the public with a sticker price of $134,995.

The new car will be called the ‘Shelby R-Model Jerry Titus Edition’ and will be based on either a 2007 or 2008 Shelby GT Mustang. Powering the R-Model will be a heavily modified 4.6L V8 engine with a Ford Racing Whipple Twin Screw supercharger. Peak output is expected to stand at 550hp (410kW).

Sending drive to the rear wheels will be a GT500-based T6060 six-speed manual transmission, short-throw shifter and a 3.73 final gear ratio. Medications to the race-prepped chassis will include specially tuned suspension, a Grand Am-spec full roll-cage, a performance side exhaust, an upgraded cooling system including transmission and differential coolers, 18in alloys, and high-performance brakes.

The exterior will feature a carbon-fiber wing and front splitter, as well as a unique grille, Shelby badging and racing-style side mirrors. Each car will be painted white with silver stripes and receive an official Shelby ‘R-Model’ dash plate signed by Carroll Shelby and documentation from the Shelby Registry.