Codemasters today announced that it's developing a new Formula One title called F1 Race Stars, which will be released for the Xbox 360, PlayStation 3 and PC in November 2012.

F1 Race Stars is an arcade racing game featuring official Formula One cars, teams and circuits. Players will also be able to take advantage of a range of power-ups as they manoeuvre through every straight, hairpin, jump and loop-the-loop with super-fast racing.