Ricci will play Trixie in the film, Speed's girlfriend and ally on and off the track.
Already attached, Emile Hirsch plays the title role, and Susan Sarandon and John Goodman are also signed on as Speed's parents.
The story, just like the classic '60s toon on which it is based, centers around Speed and his quest for glory in his sweet, tricked-out ride, the Mach 5.
Joel Silver is producing the Warner Bros. flick. The Wachowski brothers are writing and directing the movie. Production will be based in Berlin, where the filmmakers hope to start shooting this summer. A summer 2008 release is planned.
"I love the Wachowskis," Ricci says on a video currently streaming on YouTube accessible via www.speedracerthemovie.com. "And from the graphics I've seen, it just looks like they're going to make such an iconic world, and so to be a part of that world is just really thrilling."