'Hot Wheels' Live-Action Movie Is Racing Into Development At Warner Bros., Mattel

After years of driving in circles, the long-gestating Hot Wheels movie is finally heading toward the finish line. Mattel and Warner Bros. are teaming up to develop the toy company's beloved car toyline Hot Wheels into a live-action feature film, making it their second partnership following the Barbie movie starring Margot Robbie.

On the heels of news of a Funko Pop movie, Warner Bros. has announced that it is partnering with Mattel to develop a live-action Hot Wheels movie. Variety reports that Mattel, which acquired the rights to a Hot Wheels movie back from Legendary, has struck up a deal with Warner Bros. through its newly established Mattel Films banner.

Ynon Kreiz, Mattel's chairman and CEO, said in a statement:

"We are excited to bring the thrill of a Hot Wheels live-action feature film to the big screen in partnership with Warner Bros. Pictures. Mattel Films has great momentum as it continues to execute on our commitment to bring global audiences new ways to experience the brands they love as we transform Mattel into an IP-driven, high-performing toy company."

"Hot Wheels has been inspiring the imagination of kids around the world for over 50 years," Toby Emmerich, Warner Bros.' chairman adds. "We couldn't be more excited to be bringing the adrenaline, adventure, and excitement of Hot Wheels to the big screen."

Producer Robbie Brenner leads the newly established film division as the company seeks to take control of its IP by reacquiring the rights to its various properties. In addition to Barbie and Hot Wheels, Mattel has renegotiated a deal with Sony for Masters of the Universe. Mattel reacquired the rights to Hot Wheels after the film rights expired with Legendary, which had been attempting to develop a film based on the tiny racecar franchise for nearly a decade. Multiple directors, from Simon Crane to McG jumped into the driver's seat over the years, but couldn't steer the film toward the finish line. As recently as 2016, Fast and Furious' Justin Lin was attached to helm the Hot Wheels film, but that came to a skid as well.

With Warner Bros. (which has seen major success with toy-related adaptations thanks to The LEGO Movie) throwing their weight behind the adaptation, Mattel could finally finish this 10-year race. Whether it will be worth the 10-year wait is another story.