There’s going to be a Ridge Racer for the Playstation Vita.

That’s the entire story, but the press release goes on for a few paragraphs on something that everyone would assume would happen. If you want to read it, look after the jump.

Leading video game developer and publisher NAMCO BANDAI Games America Inc. today announced that RIDGE RACER^® (working title) is currently under development for the Next Generation Portable entertainment system PlayStation^® Vita which Sony Computer Entertainment Inc. is planning to launch at the end of 2011.

RIDGE RACER for PlayStation® Vita is the newest installment of the exhilarating RIDGE RACER arcade racingseries. Players can expect high-speed drifting at break-neck speeds in high-performance racing machines with new exciting new gameplay additions.  Drift racing fans looking for edge-of-your-seat action will be able to truly feel the on-screen drama through the revolutionary features of the PlayStation® Vita.

The new title is being co-developed by NAMCO BANDAI Games Inc. and Cellius, a joint venture founded between NAMCO BANDAI Games Inc. and Sony Computer Entertainment Japan in 2007. Acting as Director for the PlayStation® Vita version ofRIDGE RACER is Hideo Teramoto of Cellius.  Teramoto’s previous work includes Associate Producer of critically acclaimed titles including RIDGE RACER® for the PSP®(PlayStation®Portable) system and RIDGE RACER® 7 for the PlayStation®3 system.

To stay in touch with RIDGE RACER, please visithttp://www.facebook.com/ridgefan orhttp://www.namcobandaigames.com.