Movies which earned more than $1 billion worldwide tend to produce more sequels; and "Fast and Furious 8" is not an exception. After the tragic death of Paul Walker, fans are still eager as to what the movies could offer. New reports surfaced that aside from the movies, the hit American action franchise movie will release a spinoff series.

The eighth chapter in the "Fast and the Furious" franchise just got a release date. Universal released the news during a CinemaCon presentation and then the film series posted the date on Facebook:

"We're going to make the best movie you've ever seen," Vin Diesel said during the studio's panel.

Moreover, actor Vin Diesel says with F. Gary Gray as the director, the "Fast and Furious 8" will have a chance to win at next year's Academy Awards.

"I think he went into making this movie with a little bit of a chip on his shoulder, going 'Oh, really? OK. Now I'm going to take the biggest saga in the world, and I'm about to throw Oscars at you. Wait till you see what he does!'" the actor told Entertainment Tonight.

"Fast and Furious 8 is different. It's very dark. My character has conflicted in a way that is really going to shock you. He's coming off of a lot of emotion from 7 and the loss that 7 represents," the actor added.

Dom Toretto himself has already said "Fast and Furious" will conclude with a final trilogy and that "Straight Outta Compton" director F. Gary Gray would be taking over the next film. But, looks like spinoff series are yet to come, according to Vin Diesel's revelation.

In the wake of rumblings that the franchise would wrap after 10 films, Variety reported Monday that Universal and producer and star Vin Diesel are developing spinoff ideas.

"We've written out storylines for various characters," Diesel said. "We've been playing with it for a long time. It's a very rich property and we're committed to treating it with a lot of class."

"Fast and Furious 8" is set for an April 14, 2017 release.