Need for Speed didn't exactly set the box office on fire last year, taking in just $43.5 million domestically. But if three Chinese studios have their way, they will start production on a sequel later this year. Video game publisher Electronic Arts is teaming with Chinese companies China Movie Channel Program Center, Jiaflix Enterprises and 1905 Pictures, the same three companies that co-produced Transformers: Age of Extinction with Paramount, to make Need for Speed 2. The follow-up will be shot in China and feature the nation's actors taking on "significant roles," according to Variety, although the sequel doesn't have a writer or director locked in yet.

While Need for Speed underperformed domestically, it still pulled in $159.7 internationally, $65 million of which came from China alone. Overall, Need for Speed took in $203.7 million worldwide from a $66 million production budget. Here's what China Movie Channel Chairman Yin Cao had to say about the sequel in a statement.

RELATED: BOX OFFICE PREDICTIONS: Can Need for Speed Lap Single Moms Club?
"We are excited to work with EA, one of the world's most recognized creative companies. We are also delighted that much of Need for Speed 2 would be filmed in China, and we believe it will include much more Chinese talent and elements."

However, the partnership between these three companies and Electronic Arts cannot move forward until they can secure the rights from DreamWorks. A studio representative revealed that those talks have not yet begun. It's possible that DreamWorks may move forward with this to start their own high-octane franchise, given the enormous success of Furious 7 both internationally and domestically over the weekend. It isn't known if original Need for Speed stars Aaron Paul, Dominic Cooper, Imogen Poots, Scott Mescudi and Dakota Johnson are being eyed to return. What do you think about Need for Speed 2 being set up in China?