Live Burnout, courtesy of Stefan Eriksson.

　　Electronic Arts isn't letting up on the gas of one of its premier racing franchises. The publisher today confirmed that Burnout 5 is currently in development and will be released on the PlayStation 3 and Xbox 360 sometime in 2007.

　　The decision to make a new version of the franchise was a no-brainer for the company; since EA took over the Burnout license from Acclaim, it has been one of the highest-rated racing series on the market.

　　Given Burnout's past success, developer Criterion isn't straying too far from the core of the winning formula. Gamers will once again buckle up and speed through the streets of Paradise City, with little concern to how their reckless driving will affect their insurance premiums.

　　However, Criterion is taking a U-turn on the series' user interface. Burnout 5 will apparently take an open-world approach, with menus eliminated and "every inch of the world" an opportunity to create massive fender benders. As if inspired by the legendary Enzo Ferrari/Gizmondo exec escapade, cars in Burnout 5 will also be able to be torn in half.

　　Burnout 5 has not yet been rated or priced.