After years of idling, the big-screen, live-action version of SPEED RACER is ready to zoom, this time with Larry and Andy Wachowski behind the wheel, says The Hollywood Reporter.

The Wachowski brothers are writing and will direct the movie, which will be produced by Joel Silver. The movie will be the duo's first directorial outing since completing the Silver-produced "Matrix" series in 2003. They are reuniting with several of the creative behind-the-scenes talent from the "Matrix" films, including executive producer Grant Hill and visual effects supervisor John Gaeta, who won an Oscar for his work on "The Matrix."

Based on the classic 1960s series created by anime pioneer Tatsuo Yoshida that later was retooled for North American audiences, the big-screen SPEED RACER will follow the adventures of the young race car driver Speed in his quest for glory in his thundering gadget-laden vehicle, Mach 5. The movie will feature other characters from the show, including Speed's family and his mysterious archrival, Racer X.