The game is developed by Amazon Game Studios, which as its name suggests is a captive game studio within the Amazon empire, with offices in San Diego, Seattle, and Orange County. It's been in the news most recently because it killed its nascent multiplayer brawler, Breakaway, earlier this year. The studio is still apparently working on its two other announced games, Crucible and New World, so TGTG would be the third known AGS product.
As for the game itself, it looks like a mostly unserious stunt racing game, with crashing, smokescreens, powerups, and that sort of thing. Basically, TGT stunts but without the risk of death by catastrophic crash that Hammond continually seeks. The interesting thing is the episodic format, which is fairly undefined save that it'll be based on the events of that week's episode. Smart money is on a "challenge" that loosely mirrors the marquee event in the episode – what the game, or its episodes, will cost is an open question. There's a four-player splitscreen format, too, which is a pleasant addition in a world that has generally abandoned couch competition for online multiplayer.
Judging by the preview video above, the Forza franchise shouldn't sweat about graphics. Nor should it worry about the car list, since it looks like the cars available will be limited to whatever has been featured on the show. And it likely won't have to worry about this game having the same quality of physics, as this game, like the show, will surely be aimed at the widest possible audience, and thus the easiest to handle driving mechanics.