JimHillMedia.com reports that at the Disney Holiday Showcase the studio officially announced that John Lasseter is co-directing CARS 2. His fellow director is Brad Lewis. The film is set to be released on June 24, 2011.

In the story, Lightning McQueen has entered the "Race of Champions," a race through Japan, Germany, Italy, France and the U.K. During the trip, his new crew chief, Mater, gets wrapped up in a mistaken identity case, involving British secret agent named Finn McMissile and international espionage.