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

The director of Crazy Rich Asians and Wicked has officially signed on, with the studio likely hoping to repeat Greta Gerwig's Barbie box-office and Oscar success.

The "Wicked" director says he aims to "create an adventure that honors Hot Wheels’ legacy while driving it somewhere entirely new.”