There has been a lot of speculation on whether Cobra Commander will be a completely new character, or whether his character will be developed from the previous film. During an interview with AICN, director John Chu finally shed some light on the matter.
I don’t know where all this crazy, speculative stuff came from. We were asked the question, Lorenzo [di Bonaventura, Producer) and I at Toy Fair...
"Is that the same actor?"
"I was like...No, its not the same actor."
"Is that Joseph Gordon Levitt?"
"No, it is not! But it is Rex!"
"We are continuing that story, there is no other Cobra Commander. We can put that rumor to rest. I was waiting for this moment to finally clarify, I’m glad you asked that."
So no Joseph Gordon-Levitt, but Rex? Sounds good to me!
A follow-up to the 2009 release of G.I. JOE: RISE OF THE COBRA, which grossed over $300M worldwide, Paramount Pictures, MGM and Skydance Productions, in association with HASBRO and di Bonaventura Pictures, commences production on G.I. JOE: RETALIATION. In this sequel, the G.I. Joes are not only fighting their mortal enemy Cobra; they are forced to contend with threats from within the government that jeopardize their very existence.