The game will focus on "deep customization, authentic urban car culture, a nocturnal open world, and an immersive narrative," according to IGN.
The developers are also working with the car blog Speedhunters (owned by EA) to make the game as realistic as possible, and that shows in the first short teaser.
Since the original Need for Speed came out on OG Playstation in the mid-90s, the franchise has spawned a movie and dozens of games. The most recent game release was 2013's Need for Speed: Rivals.
The new game comes out on Xbox One, PS4 and PC this fall.