One week ago we brought you news that two of the co-founders of Criterion Games (the folks that brought us the amazing Burnout series) announced that they are working on a spiritual successor to the aforementioned series.
The "Shiny Red Something" was actually the working title for the very first burnout game, it's unclear whether they are using it officially as the working title, or final title for that matter (probably not). Three Fields have confirmed that the pre-production research has began and are asking for people to spread the word about their new game as they are a “really small team”.
#ShinyRedSomething will be the spiritual successor to "the third one."— Official TFE (@3FieldsEnt) October 8, 2015