Kung Fury 2 is officially a go! The full-length feature sequel to the beloved and insane 2015 short has been in the works for a few years now. It's been more than a minute since we heard any updates on the project. Now we have word out of Cannes that star and director David Sandberg has not only secured financing for the movie, but that it's locked in a production start date for this summer, with both Arnold Schwarzenegger and Michael Fassbender confirmed to star.

According to a new report, Creasun Entertainment USA, a recently launched financing and production company based out of Los Angeles, has purchased a majority stake in Kung Fury 2, in addition to coming on board as a producer. Argent Pictures is set to co-finance and co-produce. Production is now scheduled to begin on July 29. George Acogny of Creasun had this to say about it in a statement.

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"Kung Fury 2 is the very exciting vision of David Sandberg, and it contains all the elements of a magical and fun ride for all ages. We are thrilled to be part of this great project and can't wait to share it with the whole world, where it will no doubt create excitement across the globe!"

The original Kung Fury was released in 2015 and has since racked up more than 40 million views on YouTube. The cheesy and action-packed homage to 80s martial arts and cop movies, with the help of David Hasselhoff, went on to become a true internet sensation. Hasselhoff even recorded and shot a video for a song titled True Survivor for the movie's soundtrack. Now, the action is coming to the big screen. Hasselhoff is set to return for the feature-length sequel. Eiza Gonzalez of Baby Driver fame has also been added to the cast.

Kung Fury 2 centers on our titular hero, this time in 1985 Miami. The city is kept safe under the watchful eye of Kung Fury, referred to as "the greatest damn cop of all time." His group of Thundercops are the ultimate police force, assembled from various points in history to take down the villainous Kung Fuhrer, Adolf Hitler. However, the death of a team member causes the group to disband. This leads to a mysterious villain emerging to aid the Fuhrer's quest to attain the ultimate weapon. Our hero must traverse time and space to save his friends, defend the Miami Kung Fu Academy and defeat evil once and for all. It's not yet clear who Arnold Schwarzenegger and Michael Fassbender will be playing.

David Sandberg co-wrote the screenplay with Tyler Burton Smith (Child's Play). Production will take place in Bulgaria and Germany. There is no word yet on when Kung Fury 2 will actually be released, nor is it clear if this is intended to be a theatrical release, or something that is destined for a streaming service. We'll be sure to keep you posted as further details on the project are made available. This news was first reported by The Hollywood Reporter.