The Wachowski Brothers are bringing a live action adaptation of the classic 1960's animated series Speed Racer to the big screen.

The brothers who were the force behind The Matrix trilogy, are writing the script with the plan to direct (but we heard that one before with V For Vendetta).

"They are approaching these racing scenes in a way you've never seen before," Silver told THR.

Silver also revealed that the brothers are designing the movie's look as they write, and are hoping for a family-friendly rating.

Speed Racer is one of the first Japanese animes to catch traction with American audiences. In the cartoon series, Eighteen-year-old Speed Racer wants to become a race car driver, but his father, automotive engineer "Pops" disapproves. Speed with the help of the amazing Mach 5 race car, embarks on a series of fantastic adventures that pit him and his friends against Skull Duggery, Snake Oiler, Mr. Wiley, and the Alpha Gang. The film is expected to include Speed's family and mysterious arch-rival, Racer X.

Joel Silver has been trying to get the project off the ground since the early 1990's. Julien Temple (Earth Girls Are Easy), Gus Van Sant (Good Will Hunting), Alfonso Cuaron (Great Expectations) and music video director Hype Williams have all at one time been attached to the project. Van Sant signed Johnny Depp to star as Speed. Screenwriters have included Christian Gudegast, Paul Scheuring, Jeffrey Abrams (Regarding Henry), Jennifer Flackett (cowriter of Madeline), Patrick Johnson (cowriter of Spaced Invaders), John Lau (Second Skin), J.F. Lawton (Pretty Woman), Mark Levin (cowriter of Madeline) and Jeff Vintar (Final Fantasy: The Spirits Within).

Warner paid Gudegast and Scheuring a shocking $1.2 to write their draft of the script, which goes to show you that the studio must have a lot of money invested in the project.

Vince Vaughn was also in talks to star in the project in 2004.

The current plan has for the Wachowskis begin principal photography in summer 2007 for a summer 2008 release.