There's a new Mass Effect. It's Mass Effect: Andromeda, and it's coming "holiday 2016."
What do we know about the game? Not much yet. Here's the brief description BioWare's given:
While we aren't ready to go into too many details just yet, as you saw in the trailer and can tell by the name, this game is very much a new adventure, taking place far away from and long after the events of the original trilogy. You will play a human, male or female, though that's actually not the character you saw in the trailer (more on that later). You'll be exploring an all-new galaxy, Andromeda, and piloting the new and improved Mako you saw. And through it all, you will have a new team of adventurers to work with, learn from, fight alongside of, and fall in love with.
Development on the game started while Mass Effect 3 was still being finished in early 2013. It's being built in the Frostbite engine and will only be released on PC and current gen consoles.
According to the developers, the trailer footage was pulled from the game's engine, too.
Also, that trailer you just saw used footage captured from in engine... f
— Michael Gamble (@GambleMike) June 15, 2015
Of course, the trailer wasn't gameplay, but that sure was a pretty (and exciting) teaser.