The Matrix creators LARRY and Andy Wachowski have signed on to write and direct a big screen version of the classic 1960s animated TV series SPEED RACER.
The brothers will re-team with The Matrix producer Joel Silver for the movie that Silver has been trying to get made for over a decade.
The Japanese cartoon series Speed Racer, created by anime pioneer TATSUO TOSHIDA, focused on SPEED, his MACh 5 gadget-laden race car and the adventures he got into with his family.
He was often bailed out of danger by RACER X, a rival with a mysterious connection to Speed.
Silver most recently collaborated with the Wachowskis on V For Vendetta and approached them to take on the project.
He says, "I've struggled with this movie for a long time, but when Larry and Andy came across with their ideas and vision, it was so fresh and original that you wonder why nobody else thought of it."
Production will begin next summer (07) in Europe and the film is scheduled for release in summer 2008.