It will be called Yowamushi Pedal: New Generation. Alongside the announcement a new visual has been revealed, which is the one you are seeing above.
Based on the manga of Wataru Watanabe, Anime News Network describes the manga as follows:
“The story of the original Yowamushi Pedal manga centers around Sakamichi Onoda, an otaku at Sōhoku High School. He loves anime and games so much, that he would ride his commuter bicycle to and from Tokyo’s Akihabara shopping district in a 90-kilometer (about 60-mile) round trip over steep slopes after school. Onoda’s life changes when he encounters his school’s cycling team, and he ends up joining the competitive sport of bicycle racing.”
Via: Anime News Network