Overnight Rockstar Games have announced that Grand Theft Auto 5 will hit PlayStation 5 and Xbox Series X|S on March 15th, bringing the iconic entry to the third generation of consoles, as it released originally back on PlayStation 3 and Xbox 360.

With the GTAV community stronger than ever, Grand Theft Auto V and Grand Theft Auto Online will come to the PlayStation 5 and Xbox Series X|S platforms this coming March 15, bringing the blockbuster open-world experience to players on the latest hardware. We sincerely appreciate the entire community’s support over the years as the game now heads into an unprecedented third console generation.

Grand Theft Auto V and GTA Online for PlayStation 5 and Xbox Series X|S features new graphics modes with up to 4K resolution, up to 60 frames per second, texture and draw distance upgrades, HDR options and ray-tracing, as well as offering the technical advancements of the latest console generation with faster loading times, immersive 3D audio, platform-specific features like advanced haptic feedback, and much more.

PS4 and Xbox One players eager to continue their journey on the newest generation of hardware will be able to transfer both their GTAV Story Mode progress and their current GTA Online characters and progression to PS5 and Xbox Series X|S with a one-time migration at launch.

Plus, a new standalone version of GTA Online for PlayStation 5 and Xbox Series X|S will debut at launch — available for free for the first three months to PlayStation 5 players — making it easier than ever before for new players to experience everything GTA Online has to offer.

It is interesting that they are allowing for story progress and GTA Online character transfers, from Xbox One to Xbox Series X|S, but there doesn’t appear to be any form of upgrade from last-gen to the new platforms. Does this mean that if you want to have GTA V on PlayStation 5, and you already own it on PlayStation 4, you have to buy it again. If so, I can see many people not buying in, but maybe that is something they will clarify as we get closer to release.