Phantom Liberty will be "a spy-thriller expansion" that will take place in an all-new district of Night City, with "a new style of plot" and an all-new cast of characters. The trailer stayed vague on details, not surprising really, but it seems as though V is signing up for some new kind of venture on behalf of the New United States of America, the country that arose in the wake of the Collapse—and not everyone is entirely pleased about it.
Keanu Reeves also appeared during the livestream to announce that dead cyber-rocker Johnny Silverhand will be returning for the expansion. Sadly, he's not in the teaser, but you can see him in the full show embedded below—cued up to his big moment, for your viewing convenience.
Cyberpunk 2077: Phantom Liberty is slated to come out sometime in 2023.