The Elettra 2.0 project was approved by the Italian Government in 2017, with plans for the new machine to commence serving external users in 2027. The design phase lead to a final version of Elettra 2.0 a fully transversely coherent source up to 0.5 keV-photon energy, more than doubling the total average current and increasing brightness by more than two orders of magnitude as compared to the current source, and maintaining a diversified beamline portfolio to allow experiments across a broad spectrum of photon energies, from a few tens of eV to several tens of keV, while substantially increasing the number of beamlines operating in the hard-X-ray range. In perspective, the possibility of producing picosecond-long light pulses at a MHz repetition rate across multiple beamlines simultaneously, without interference to standard multi-bunch operation is also being considered. Another important aspect of Elettra 2.0 is the high degree of transverse coherence in both the horizontal and vertical directions, projected to improve by a factor of 60 at 1 keV as compared to the current source.