The iconic Cobra name returns to Australian motoring with Ford Performance Vehicles Pty. Ltd.’s (FPV’s) unveiling of its new special-edition GT Cobra and Cobra Ute car-based pickup.

Fittingly, the new Cobra range first was revealed during a parade lap of Mount Panorama before the start of the Bathurst 621-mile (1,000-km) race in New South Wales.

Some 30 years ago, the Ford Falcon XC Hardtop staged the now-famous 1-2 victory formation at the 1977 Bathurst 1,000 race, which led to the release of the limited-edition Cobra XC Hardtop the following year.

Today, FPV is an independent joint venture between the U.K.’s Prodrive Ltd. (51%) and Ford Motor Co. of Australia Ltd. (49%).

This time around, Cobra production will be limited to 400 sedans and 100 Utes. Each vehicle will come with a unique Cobra build-badge identity.

“The Cobra name invokes passion among motoring enthusiasts, and now, 30 years after the famous 1-2 win at Bathurst, the new FPV GT Cobra offers the exclusivity of Cobra ownership to a new generation of car owners,” FPV General Manager Rod Barrett says.

“The new FPV GT Cobra combines the original XC Cobra’s bold styling with the latest in FPV engineering and total performance.”

While the vehicle’s exterior features the Cobra’s famed blue racing stripes and coiled-snake emblem, the vehicle will be powered by FPV’s latest Boss high-performance 5.4L DOHC V-8 that generates 405 hp.

The new Boss engine powering both the sedan and Ute variants also produces 398 lb.-ft. (540 Nm) of torque and is equipped with FPV stainless steel exhaust manifolds and a high-flow, dual-exhaust system.

The GT Cobra has a limited-slip differential and is available with either a close ratio 6-speed manual transmission with a high-torque clutch or the ZF Friedrichshafen AG-made 6-speed automatic transmission that incorporates the Sequential Sports Shift manual-shift function.

FPV’s innovative R-Spec handling package is fitted as standard to the GT Cobra, contributing to the outstanding chassis dynamics of the special-edition model.

Both variants get leather seats as standard, with each seat carrying the coiled Cobra snake logo.

The Cobra’s Dunlop SP Sport Maxx tires are mounted on special 19-in., 5-spoke alloy wheels with white accents and a machined finish.

The GT Cobra sedan carries a suggested retail price of A$65,110 ($58,448), while the Cobra Ute will be priced at A$61,200 ($54,938).