Well it's finally here as EA formally announced Mass Effect: Andromeda today. There's not much beyond this teaser trailer but it looks like the game will be out in Holiday 2016 for the PC, Xbox One, and PlayStation 4.
There's not a lot of detail on the game yet but there is a post on the Bioware site that does have some info like that the game has been in development sine the end of Mass Effect 3 and that the game will be using the Frostbite engine.
