According to the professional LinkedIn CV of an ex-Codemasters developer, Codemasters is currently working on a new IP for "true" next-generation consoles.
Specifically, it is "a new IP at Codemasters that will span at least 6 platforms including true 'next-gen' hardware" that "will also be the first game to use Codemasters' new engine EGO 2 [engine]".
With Codemasters focusing on the racing genre, particularly with the launch of the new "Codemasters Racing" label with DiRT Showdown.
Some reports say that it's a sequel to Race Driver: GRID for perhaps the Wii U, though I hope it's DiRT 4 for the next Xbox and PlayStation console to show off their prowess in graphics.
[Source]
