Gearbox Software, makers of Borderlands 1, is making Borderlands 2. This is the game's first teaser.
Borderlands 2 was first revealed earlier this month. "Combining invention and evolution, Borderlands 2 features all-new characters, skills, environments, enemies, weapons and equipment, which come together in an ambitiously crafted story," said publisher 2K Games in an official statement at the time. "Players will reveal secrets, and escalate mysteries of the Borderlands universe as they adventure across the unexplored new areas of Pandora."
The teaser features snowy and then lush green settings, which certainly sound like "the unexplored new areas of Pandora". According to Gearbox Software, this trailer is all in engine.