MTV talked with director Jon Favreau who is already in development on Iron Man 3, and admits that he has no idea what the film will look like until after Thor, Captain America: The First Avenger, and The Avengers come out in theaters.

Favreau does confirm he would still like to have Iron Man's arch-nemesis The Mandarin be the film's villain. Favreau also admits that the character from the comics will require some reworking, even though he's been setting up Mandarin's presence in the Iron Man and Iron Man 2.

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