The '00 Ford SVT Mustang Cobra R, due to go on sale sometime late in the fourth quarter, will be powered by a high output 5.4L V-8 and feature plenty of exterior additions, including a front air-splitter and tall rear deck spoiler.

Ford showed a prototype of the Cobra R April 17 (Saturday) during the Mustang Club of America's 35th Anniversary for the Mustang at the Charlotte Motor Speedway in Charlotte, NC. Ford isn't discussing horsepower or any other pertinent details for the street-legal Mustang, but Tom Scarpello, SVT marketing manager, says the Cobra R will be the fastest production Mustang in history.

The Cobra R also gets what SVT calls a “power dome” hood with a rear air extractor for improved engine cooling, 18-in. wheels and a lowered suspension.

Inside, SVT adds Recaro sport seats and removes the radio, air-conditioner and back seat to save weight. SVT also has tapped some notable performance parts suppliers, including Brembo for brake rotors and calipers, Tremec for the transmission, Eibach and Bilstein for the suspension and Borla for the exhaust.

There's no word yet on whether Ford will sell the Cobra R with decals, but SVT is considering offering that as an option.

Ford plans to build just 300 Cobra R models the first year. Like the rest of the Mustang lineup, it will be produced at Ford's Dearborn, MI, assembly plant. The '00 model will be the third generation of the Cobra R, following the '93 and '95 models. Prospective buyers, however, do not need a competition license to buy the vehicle as was required with past Cobra R models.

Ford built just 107 units of the '93 Cobra R, which was powered by a 5.0L high-output V-8. The '95 Cobra R featured a more powerful 5.8L Windsor V-8. Ford built just 250 in that year.