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Earlier this year, Tom Cruise and director Joseph Kosinski teamed-up for the futuristic, sci-fi adventure Oblivion, but for their next project together, the pair is reportedly looking at something a little more reality-based.

According to Hollywood insiders, the duo wants to combine their efforts on a project called Go Like Hell, an adaptation of the book Go Like Hell: Ford, Ferrari, and their Battle For Speed and Glory at Le Mans by A.J. Baime, a story that combines car racing, American/European rivalries, and the never-ending love of 60s nostalgia.

According to Deadline, the book follows the famous Le Mans rivalry between Henry Ford II, grandson of automotive innovator Henry Ford, and Enzo Ferrari, founder of the famous Italian luxury car maker. Ford, along with fellow Ford Motor Company exec Lee Iacocca and engineer Carroll Shelby, tried to best Ferrari in the famous Le Mans Formula One race, and in 1966, the Ford GT40 became the first American car in history to win the race. It’s been reported that Cruise is looking at playing Ford in the film, but that’s not yet confirmed.

If the project sounds familiar, it’s because it’s been set up at Twentieth Century Fox for the last couple of years, previously under the direction of Michael Mann and possibly starring Brad Pitt. The Hollywood Reporter says that Fox is looking to get this movie going in short order, possibly to capitalize on the critical acclaim of Rush, another movie about great moments in auto-racing history.

Still, both Cruise and Kosinski are very busy guys with a lot on their respective plates, so a quick turn-around may not be entirely possible. Still, the movie would be an interesting departure for Kosinski, whose only other previous directing credit is TRON: Legacy.

More news on this project as it develops, but in the meantime, let us know what you think of Go Like Hell.