Jamie Foxx is in negotiations to play Electro in Amazing Spider-Man 2, according to Variety.  Foxx tweeted an indication that the negotiations are far along Thursday when he said, "Dressed up as Electro for Halloween last night. Costume fits well."
The storyline appears to revolve around the death of Gwen Stacy (see "'Spider-Man' Sequel Built Around the Death of Gwen Stacy").  Marc Webb is directing and Andrew Garfield will play Peter Parker; Shailene Woodley will play Mary Jane Watson (see "Shailene Woodley to Play Mary Jane Watson").  The film will premiere May 2nd, 2014.