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The Ford Mustang has been in continuous production for 50 years (Photo: Ford)

Ford unveiled a new version of its Mustang sports car Thursday, acknowledging that the model is designed to boost the car brand's image as a maker of technologically advanced as well as sporty vehicles across all market segments.

"We crafted this car with the goal of creating a contemporary interpretation of Mustang ”“ an American automotive icon that symbolizes optimism and freedom for millions of people around the world,” said Jim Farley, executive vice president of Ford global marketing, sales and service.

Ford said the 2015 Mustang, which will also be sold in Europe, will have more precise steering control and various new systems aimed at providing a better ride. The car also comes with a large number of new technologies designed to  give drivers enhanced information, control and connectivity.

The Mustang will have features such as Ford's Intelligent Access, the latest version of Sync and MyKey, as well as Track Apps, which lets a driver monitor the car's performance. Drivers can personalize their gauges with Ford's MyColor system and premium sound is available through a new Shaker Pro audio system.

"We have intelligent access standard in the car, push-button start is standard," Dave Pericak, chief engineer for the Mustang, said in a press release. "We have blind-spot monitoring, adaptive cruise control, heated and cooled seats, you name it we’ve got in this car."

In the US, the new Mustang will be available with a 5.0 liter V8, a 3.7 liter V6 or a 2.3 liter EcoBoost gasoline engine.