"Lost" leading man Matthew Fox is in final negotiations to play Racer X in the live-action update of the 1960s cartoon "Speed Racer" for Warner Bros. Pictures says The Hollywood Reporter.

"Speed" centers on a young race car driver, Speed (Hirsch), and his quest for glory in his thundering, gadget-laden Mach 5. Fox will play Speed's mysterious racing rival, an enigmatic soldier of fortune.

Aussie spunkrat Kick Gurry ("Spartan," "Garage Days") is in negotiations to play Sparky, Speed's hippie mechanic. Emile Hirsch, Christina Ricci, Susan Sarandon and John Goodman already are on board the film, which will shoot in the summer in Berlin.

Larry and Andy Wachowski are writing and directing, with the studio eyeing a May 2008 release.