Read here: Nexus 7 2016 and Android N OS to be Announced During The Google I/O 2016 Event
According to reports, there were a few technical issues with the Nexus 6P, but it still received some good reviews and it was sold pretty well and it seems that Google will collaborate with the same manufacturer (Huawei) to release the third generation Nexus 7. The last two-generations of Nexus 7 tablets were quite popular
Source: Neurogadget