EA Gothenburg is now called Ghost Games. And it will create the newest Need for Speed game, most likely running on the Frostbite 2 engine. At least, it’s hiring people that indicate this 
The last Frostbite powered NFS game was NFS The Run. A year later Need for Speed Most Wanted was (re-)released, but that was powered by another game engine. However, the next one will most likely be a Frostbite 2 powered race game.
More info here. (Eurogamer)
Also here. (VG24/7)
Finally Need for Speed The Run has been released and this is what GameTrailers has to say about it.
DICE’s cutting-edge BF3 tech enters the racing genre.
EA has announced that this November’s Need for Speed The Run will be powered by DICE’s cutting-edge Frostbite 2 game engine.
We’re promised “unparalleled visual quality and enhanced physics”.
Frostbite 2 hit the headlines after the amazing looking Battlefield 3 broke from cover, wowing onlookers with some of the most impressive visuals we’ve seen.
NFS The Run will be released on November 18 for Xbox 360, PS3, PC, Wii and 3DS.