The bandoneon is a distinctive free-reed instrument with profound ties to tango culture and Latin American music. The scarcity of manufacturers and the related high retail prices, however, are restricting access to the instrument for new generations of musicians. By combining modern technologies and scientific research, the Bandoneon 2.0 project aims to create an expressive and accessible new version of the instrument. In this article, we present an electronic bandoneon with a custom sound synthesis system. We also present an acoustic measurement system with which we analyzed the sound and air pressure signals of an acoustic bandoneon. Through this, we characterized several sound attributes that are utilized in a synthesis model made in Faust DSP. Combining the controller interface and the custom synthesizer, the electronic bandoneon we created can achieve a good level of expressiveness and engagement for the performer. We aim to produce an instrument that can be used in recreational, academic, and professional contexts to address the current sociocultural demand.