It is understood that the storyline from PlanetSide has been effectively rewritten for the sequel. The game is said to be set at around the same time as the original.
We know that each of the factions will have a more elabourate background story than before. Details are scarce but the identities of the races are broadly the same as before.
The well-drilled, millitaristic army. Organised and ruthlessly precise in their battle tactics.
A less well organised faction favouring guerilla tactics. Although lacking clear leadership, they perform effectively in the field.
This enigmatic race rely on their superior technological prowess to give them the edge.