Motorola CEO Dennis Woodside confirmed it in his interview at the D11 conference that Motorola will continue to exist as an actual company that has a purpose after being purchased by Google. This also meaning that they will create a new smartphone called the Moto X, and it will be their flagship device, completely assembled in the United States. However, it will be only be part of a “handful” of devices before October.
As for the Moto X’s hero feature? It will be “contextually aware”, meaning that the phone will know when it’s inside a pocket and when it’s taken out, when it’s inside a car and so forth — knowing what you will do before you do it may assist its more advanced feature.