The game will release in the UK precisely on September 21, 2012 and September 18, 2012 in the United States, and will use the EGO Engine.

Features

From Wiki:

The game will feature all twelve teams and twenty-four drivers competing in the 2012 season, as well as the twenty circuits — including the brand-new, incomplete Circuit of the Americas in Austin, Texas — included in the championship. The track will not have asphalt laid down until almost two months after the game is released.

The game will also feature a brand-new "Young Driver Test" mode, a tutorial mode designed to introduce new players to the handling characteristics of Formula One cars. As a demonstration, Codemasters approached several drivers — including Mercedes test driver Sam Bird and GP2 Series driver Stefano Coletti — at the real-life Young Driver Tests (for drivers who have never started a Grand Prix) in Abu Dhabi in November 2011, and asked them to drive the Yas Marina Circuit in F1 2011 instead of using the team simulators they would traditionally use to learn the circuit. All of the drivers who played the game reported that the game was realistic enough for them to learn the circuit to the point where they were confident enough to set competitive lap times.

Image by racesimcentral.com
The Young Driver Test will also feature at the start of the Career mode. You start the career at the YDT with either Red Bull, McLaren or Ferrari. You must make a first impression in the Test, as it is a lasting one i.e. it will last with you your entire 5-season career. It will also feature a new 'Champions' mode (which is semi-modelled on the challenges segment in F1 2009) and 'Season challenge', a much shorter version of the Career mode. It will also feature a revised menu, which helps to get you on track faster.