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Apple is planning to start mass production of new AirPods at the end of 2020. This was revealed by the analyst Ming-Chi Kuo where he revealed the earphones will arrive in Q1 2021.
The note to investors, quoted by Apple Insider, also revealed the second-gen AirPods Pro are not coming any time soon - Cupertino will start mass production at the end of calendar 2021, so they should be out in Q1 2022.

According to Kuo, the market might be expecting new AirPods, but will actually get a new Beats model. He also reported a shift in demand
Shipments of the non-Pro earphones is likely to decline up to 40% QoQ and reach 11-13 million sold units in the second half of 2020.
Calculations of the analyst reveal that Apple might ship up to 90 million sets of AirPods by the end of 2020 - 50 to 55 million of the AirPods, the rest 35-40 million being AirPods Pro.
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