Ford has developed a new edition of the Mustang Bullitt to coincide with the 40th anniversary of the original highland green racer from the 1968 Steve McQueen movie. Developed using parts from Ford Racing Technology, the latest version features a 315hp 4.6L V8 engine with 440Nm (325lb-ft) of torque.

The Bullitt is based on the Mustang GT but gets new shocks, struts and performance sway bar. The car also rides on a sport tuned suspension with the old live rear axle and a unique 3.73:1 gear ratio.

The brakes have been improved versus the base Mustang GT’s. More aggressive front pads were developed specifically for Bullitt and improve fade resistance and pedal feel.

Differentiating the car from the regular GT are a set of unique cast-aluminum Euroflange wheels with dark grey spokes and a satin finish. Calipers are colored to match the wheel.

The 2008 Bullitt arrives in dealers early next year, with a starting of $31,075 and limited production of 7,700 units for the U.S. and Canada only.