Mad Catz is intending to fill the racing wheel niche on the Xbox One with the "Force Feedback Racing Wheel" pictured above. There is no pricing info yet for the thing but we do know that it is going to be wireless, feature force feedback, "genuine suede leather" and an adjustable pedal set. On top of that the wheel itself which is made from anodized aluminum can be switched and upgraded in the future.
I haven't been shopping around for third-party controllers in years but my last experiences with Mad Catz back in the early 2000's weren't all that great. Has the quality of their products changed, or should we be worried if this is the only wheel offering for the Xbox One? It's sad that my current living room setup doesn't really support the addition of a wheel, but I might be able to bolt one onto my computer desk.
Kotaku has the original story with more pictures.