The Need For Speed

The long gestating film adaptation of the classic animated series Speed Racer-- is now officially a reality...The men behind The Matrix Trilogy have inked a deal to bring the Mach 5 to the big screen.

Michael Fleming and Pamela McClintock of Variety have the details:

Go Speed Racer Go!

In their first directing effort since "The Matrix" trilogy, Larry and Andy Wachowski will helm "Speed Racer" for Warner Bros.

The brothers, who are penning the script, reteam with producer Joel Silver, their accomplice in "The Matrix" films.

Production will begin in Europe next summer, and WB will release the pic in summer 2008. Warner will co-finance with Village Roadshow Pictures.

Japanese cartoon series "Speed Racer," created by anime pioneer Tatsuo Yoshida, focused on Speed, his tricked-out Mach 5 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 when they produced the James McTeigue-directed "V for Vendetta." Silver spent several months tying down the details with the siblings. After working in the pits with a number of filmmakers for over a decade, Silver was understandably revved up over finally locking in directors and a start date.

"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," Silver said.

Silver said they're doing the movie out of a desire to reach out to a broader audience than they did with the R-rated "Matrix" series.

While the Wachowskis are still writing the screenplay, they've begun reassembling the "Matrix" team. Grant Hill will be exec producer and John Gaeta will be visual-effects supervisor, having won an Oscar for his "Matrix" work.

The logistics of the film haven't yet been worked out, but it is likely that shooting will be done in European locations.

"We shot 'V for Vendetta' in Germany and had a great experience," Silver said.

"We'll probably go in Europe, but these guys are so talented in visual effects, we don't know how much of this will be done in cars on a track. I am confident they will deal with car racing in a way you haven't seen before."

I loved watching the cartoon as a kid--So I'm kinda jazzed about the project... Andy Wachowski and Larry Wachowski know how to make good looking films. Even though the last 2 Matrix flicks were disappointing in terms of story--I'm hoping that they can pull off a winner here. At one time. Matrix star Keanu Reeves was rumored to be in the running for the role of Speed--I wonder if he'll reteam with the Matrix crew for the project?