The partnership will develop a live-action feature film for the franchise, which has sold more than 6b individual cars over the past 50 years.

The Hot Wheels movie marks the second partnership for Mattel Films and Warner Bros. Pictures, following the companies’ recent announcement of a Barbie feature-film, starring and co-produced by Margot Robbie.

Ynon Kreiz, chairman and CEO of Mattel, said: “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.”

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

Mattel’s newly established Mattel Films has begun re-acquiring the rights to various properties, in order to be in control of its own IP, as Ynon explained: “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.”