Hot Wheels live-action film confirmed

The world's most popular toy franchise, Hot Wheels, is set to be adapted for the big screen, according to manufacturer Mattel.

While a timeline for release is yet to be locked in, the live-action film will reportedly be produced by cinema giant Warner Bros. Pictures.

Director J.J. Abrams – known for Mission: Impossible III, Star Wars: The Force Awakens and The Rise of Skywalker, and Star Trek and Star Trek Into Darkness – will head the project via his Bad Robot production company.

"Fans of all ages are now in for the ride of their lives ... [we will] transform Hot Wheels into a thrilling story," the company said in a statement.

Casting has not been announced, and it's so far unclear if the vehicles will be sentient or driven by humans.

While the project has seemingly been given the green light by all involved parties, many films collapse in the development stage.

Mattel has manufactured more than eight billion Hot Wheels die cast cars over the past 54 years, making them world's most popular toy.