Filming for Transformers 4 starts next spring, though no locations have been mentioned. Importantly, none of the human characters from the first three movies are set to return.
No automakers have been mentioned with the film, though it's highly likely that General Motors will remain a partner. After all, everyone will be expecting Bumblebee to turn into a bright yellow Camaro.
The fourth installment will be a sequel to 2011's Transformers 3 - Dark of the Moon, though it is expected to be a more serious take on the giant robot-fighting franchise.
Bay will once again serve as director, while another Hollywood legend, Steven Spielberg, has been named as one of the movie’s executive producers.
“Mark is awesome. We had a blast working on Pain and Gain and I’m so fired up to be back working with him. An actor of his caliber is the perfect guy to reinvigorate the franchise and carry on the Transformers’ legacy,” Bay said in a statement.
To date, the Transformers movie franchise has grossed more than $2.6 billion worldwide.