"Speed Racer" is revving up for an animated revival.

According to "Total Licensing" magazine, Tokyo-based Tatsunoko Production is developing a new series based on the popular manga and anime franchise. Anime News Network confirmed the announcement, but the company was unable to provide any additional details.

Created in 1966 by Tatsuo Yoshida, the car-racing manga quickly inspired the popular television series "Mach GoGoGo" that, as "Speed Racer," became one of the first anime to secure a foothold in the United States.

Tatsunoko produced a modernized version of the series in 1997 that was adapted for U.S. television in 2002 as "Speed Racer X." However, only the first 11 of the 34 episodes were adapted for Nickelodeon because of a licensing dispute.

"Speed Racer" was also rather infamously turned into a live-action movie in 2008 by the Wachowskis; it was box-office failure and garnered mixed reviews.