The new project has sealed "Iron Man" helmer Jon Favreau as the director and the script will be provided by Tony Gilroy's brother Dan Gilroy who recently wrote the screenplay for "The Bourne Legacy", reported Aceshowbiz.
"Battle for Bonnenville" follows half-brothers Art and Walt who are also rivals on the drag race track. They later put aside their differences and team up to set the world land speed record for three times.
In addition to the race movie, Reynolds' upcoming project is a thriller called "The Voices" from "Paranormal Activity" script Michael R Perry.
