EA announced today that it's new studio - Ghost Games - is knee-deep in development on the next Need for Speed title. The game - titled Need for Speed: Rivals - will be the first next-gen entry for the series. The game is also coming to current gen systems and the PC. Like other games from EA this year, there was no Wii U version announced.
The above trailer indicates that the footage is all in-game. It's also revealed that Criterion is helping out with development. With their racing game expertise, Rivals may just be the prettiest, and best playing, racing game this year.
Need for Speed: Rivals will launch on November 19 for all current-gen consoles and PC. It will presumably be a launch title for the PS4 and Xbox One.