Asobo, known today as the Microsoft Flight Simulator developer, created groundbreaking technology for large scale maps that was intended to be used in a high quality rally raid title. It was never released and ended up as FUEL, a post-apocalyptic open-world racing game. What happened?
Better known today as the developer of Skyrim and Fallout, Bethesda once had a well-respected racing game franchise and were deep into development of a licensed Skip Barber Racing title that never released.
Certainly better known for their non-racing sports titles, Big Ant are an Australian studio that produced a number of dirt oval racing titles, including an officially licensed World of Outlaws game in 2010.