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Well, an Android Police report has posted couple of Moto E (Gen 2) press renders revealing the front and rear panels of the same. The front panel image shows that the Moto E sequel will arrive with a relatively larger display than the 2014 model, but it does not appear to be on par with the 5 inch panel on the Moto G (Gen 2).
Also, the leaked image shows that the Moto E successor will be based on Android 5.0 Lollipop update preinstalled. The turned on display not only confirms the operating system, but also shows that the handset features single SIM, but there is a possibility for Motorola to have a dual SIM variant as well on cards. The report adds that the second generation Moto E will look exactly like the original Moto E with a noise canceling secondary microphone on the rear panel. Notably, it is claimed that the upcoming model will feature a front facing camera that was a downside of the yesteryear device.
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Talking of availability, the report suggests that the Moto E (Gen 2) could be announced at the MWC 2015 tech show to happen in March in Barcelona, but an official word regarding the same is yet to be announced by Motorola. Going by the previous reports, the Moot E (Gen 2) is likely to boast of a 4.5 inch qHD display and feature a 5 MP rear camera with LED flash and support LTE connectivity despite being priced affordably.