That's what Entertainmentwise says on their article:
When asked whether this [Drive 2] would happen the director sounded pretty unequivocal, stating that it was, "never going to happen".We are intrigued...
However the director did hint tantalisingly that the character that Gosling played may return in another project, as yet unknown.
Intringuingly though Refn added when asked about future projects with the 'Gangster Squad' actor, he said: "Possibly the character of my film and Ryan may appear again, but no 'Drive 2'."
Read the whole article at the source