Wright will write and direct, with his longtime collaborators, Working Title co-chiefs Eric Fellner and Tim Bevan, reported Deadline.
The film follows a crime boss, who coerces a young, talented getaway driver to work for him.
Elgort pays the driver, who relies on the beat of his personal soundtrack to be the best. He must face the music when a doomed heist threatens his life, love and freedom.
Nira Park's Big Talk Productions will also produce the film.
The movie is based on the 2011 French film "Nuit Blanche".