HOLLYWOOD—It’s official. The seventh installment of the “Fast and Furious” franchise that has been built on cars, speed and heists, will be released sooner than expected on July 11, 2014.

The news was confirmed on April 16 by leading man Vin Diesel, who made the announcement at Cinema Con with his co-stars at hand. With the sixth installment “Fast and Furious 6” waiting for its release in a few short weeks on May 24th, there is not much detail on the seventh film yet.

Known for a fact is that director Justin Lin, who directed the last four “Fast and Furious” films, will not return to direct the seventh film due to the rushed schedule to produce another film by next summer. Though not officially confirmed, “Insidious” director James Wan is currently in talks and the frontrunner to direct the next film.

Lin released a statement regarding his decision to leave the franchise earlier this month: “I’m extremely proud to be part of the Fast franchise, it is an experience I will always treasure,” Lin said. “It’s time for me to move on to other things and I’m thrilled that Universal and Neal have selected James Wan to lead the franchise into its new chapter.”

The seventh film will begin production later this year for next year’s summer release. The franchise began in 2001 with its eponymous first film and 2009’s “Fast and Furious” revived the series with two more sequels, including next month’s release.

“Fast and Furious 6” will star original castmembers Vin Diesel, Paul Walker and Jordana Brewster alongside Dwayne Johnson, Tyrese, Chris Bridges and Sung Kang, who all reprise their roles from the previous film. They will be joined by new cast mates Luke Evans and Gina Carrano, and will see the return of original cast member Michelle Rodriguez, who was brought back from the dead following a strong fan base who petitioned her return.

By Carmen Herrera