Warner Bros. Pictures and Mattel announced another partnership that will bring Hot Wheels to theaters in the first ever live-action feature film for the franchise.

The “Hot Wheels” movie marks the second partnership for Mattel Films and Warner Bros. Pictures, and it follows the companies’ recent announcement of the Barbie feature-film starring and co-produced by Academy Award nominated actress, Margot Robbie. That film was confirmed earlier this month, and the project was the first announced deal coming out of Mattel’s newly-established Mattel Films, led by Academy Award-nominated producer Robbie Brenner.

Ynon Kreiz, Mattel’s Chairman and CEO 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. 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 debuted in 1968 and since that time, has sold more than six billion individual cars during its storied, 50-year history. With more than 500 million Hot Wheels being sold annually, Hot Wheels is the number one selling toy in the world.

The movie makes sense for Warner Bros. Pictures, since Disney has already proven that a “Cars” franchise is profitable, and LEGO has already confirmed that a toy-to-film franchise can pay off big for studios. Unlike those projects, the new “Hot Wheels” film will be a live-action franchise, so that does separate this film from the proven formula. The studio has not confirmed a premiere date at this time, and it will be a few more months before we hear any casting details.

As for the “Barbie” movie, the new project will star Margot Robbie as Barbie, who is also co-producing the film under her LuckyChap Entertainment Banner, alongside Tom Ackerley and Josey McNamara from LuckyChap Entertainment.