Guerrilla Games is currently putting the finishing touches to PS4 launch game Killzone: Shadow Fall, and it has also began work on a brand-new IP, lead designer Eric Boltjes told Eurogamer at EGX last week.
"As a studio we do want to branch out, and we have started work on a new IP, something completely different to Killzone," said Boltjes. "I don't want to say anything about it right now, but as a studio we do want to keep it fresh."
He added: "About three to four months before you ship, the designers sit down and think, what can we do for the next one."
This suggests the new project is very much in its early stages so we shouldn't expect see see or hear anything on it for some time.
Killzone: Shadow Fall will be released November 29.