Pixar Set to Produce 'Cars 3,' 'Incredibles 2'

Fans of Pixar's existing franchises, get pumped: The studio is working on new installments of both Cars and The Incredibles.

According to Variety, Disney CEO Bob Iger announced plans to develop a third Cars film as well as a sequel to 2004's The Incredibles during the company's shareholders meeting in Portland, Oregon. The Incredibles director Brad Bird is on board for that sequel, but no details on the production team were announced for Cars 3.

The third Cars film would make it the second Pixar property to become a trilogy -- the first being Toy Story -- although the franchise is actually Pixar's largest in terms of film count: The first Cars debuted in 2006, with a sequel arriving in 2011; Planes, the Cars direct-to-DVD spinoff, was released in 2013, and already has a sequel in development. By contrast, The Incredibles will be the fifth Pixar film to receive a direct sequel, behind Toy Story, Monsters Inc., Cars and Finding Nemo.

Pixar had previously announced plans for a theatrical re-release of The Incredibles and Ratatouille in 3D. Other films the studio has in development include Finding Dory (the Finding Nemo sequel); Inside Out and The Good Dinosaur.

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