Mass Effect: Andromeda has just been announced and has been set for release, holiday season of 2016.
[UPDATE] BioWare states on their Mass Effect: Andromeda web page:
“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.”
In the trailer we see an N7 soldier swiping through holograms of potential video game locations. Mass Effect: Andromeda will be set in an entirely new galaxy.
Stay tuned for more information. Screenshots below.