Update: SimBin has sent out a press release, denying the development of RACE 360. Says the company, "We are issuing this statement to counter false rumours currently circulating on the internet regarding a new X360 game. We do have plans for an upcoming X360 game and an official announcement from Simbin will follow shortly with correct information on title and publisher. The information currently circulating is incorrect".

Original Story:

THQ and SimBin Studios have teamed up to bring RACE 360 to the Xbox 360 this November, VirtualR.net is reporting.

The game is said to feature 350 cars and 15 tracks, much like SimBin's previous PC effort RACE 07. RACE 360 also features 12 players multiplayer racing, and offline split-screen support.

SimBin Studios exclusively develops realistic racing simulation games including the GTR and RACE series. No SimBin games have made it to consoles so far; an Xbox version of GTR - FIA GT Racing Game was in development at one point, but got cancelled.You can find a demo of last year's RACE 07, on FileShack.