At last year's SEMA show, Ford unveiled the latest Mustang to join the Ford Racing stable, the FR500CJ Cobra Jet. The purpose-built drag racer came standard with go-fast parts from the Ford Racing catalog, including a 400 horsepower version of the 5.4-liter supercharged V8 (de-tuned to meet specifications needed for NHRA's AA Stock class) and a drag-specific wheel and tire combination. The 2009 model was a success both with customers and on the track. Ford Racing sold the entire run of fifty cars in less than two weeks, and itwon its very first race at the NHRA Winternationalsin Pomona, CA back in February. Building on that success, Ford Racing announced today that it will be building a 2010 version of the Cobra Jet, with production to begin during the fourth quarter with deliveries taking place in early 2010. The base price is expected to be less than $75,000, and once again production will be limited to just fifty units. Like the 2009 model, the 2010 Cobra Jet will be modified with all Ford Racing parts including the supercharged 5.4-liter V8 that is now rated at 425 horsepower. Perhaps the most exciting news is the availability of an optional 475 horsepower aluminum block motor that we dearly hope will somehow find its way into a production car. Follow the jump for the press release from Ford Racing, and look for more details and photos to come around SEMA in November.