[[wysiwyg_imageupload:4665:]]Mass Effect 3 launched this past March receiving a huge response; not only is the game one of the highest rated for PS3, but the fandom was in such an uproar over the ending that Bioware responded with a new DLC.
As there are so many Mass Effect fans out there, it comes to no surprise that more games are coming.
While no story details are known, except that Commander Shepard will not be featured, we learn "Mass Effect 4" went into development a couple months ago and hopes to have a 2014 or 2015 release.
A rep for BioWare remarks about the change in studio and game engine as well as the release:
While I can’t comment on why it changed studios, fans can expect a similar style of choices and action that they’ve come to know in Mass Effect. Casey Hudson is very much involved in the new Mass Effect game, as well as many from Edmonton. BioWare Montreal is a great studio and they did fantastic with the multiplayer for Mass Effect 3, so fans should know the series is in good hands. The game isn’t far along in development so I can’t comment on specifics because they isn’t any yet, Frostbite 2 is a really good game engine that we are also using on Dragon Age 3. As far as release date, there’s nothing to be announced yet. You’ll hear more about the new Mass Effect game [next year] in 2013.
Late 2014 to Mid 2015. I honestly can’t tell you an exact because full development on the game started a month or two ago.