Juel Taylor and Tony Rettenmaier will pen the script for the live-action feature take of the iconic racing toy brand.

After Wicked: For Good bows in theaters this fall, filmmaker Jon M. Chu will be trading flight for high-speed races with the Hot Wheels movie.

"Jon's ability to craft rich, elaborate worlds with a distinct point of view makes him the ideal storyteller to bring Hot Wheels to life," Brenner said. "His films are visual spectacles - true eye candy - but what sets them apart is how he weaves unforgettable narratives within those stunning frames."