Studio executives have announced the sixth installment in the blockbuster franchise will focus on the bright-yellow daredevil Bumblebee, which can turn into a Chevrolet Camaro.

The spin-off will be released in 2018, between the next Michael Bay-directed Transformers 5 in 2017, and Transformers 7 in 2019.

"There are characters in the Transformers universe that can be and should be made into their own movies," Paramount Pictures chairman and CEO Brad Grey tells The Hollywood Reporter. "We will make the first movie with Michael and go right into a Bumblebee movie, which will be at a lower cost."

Since the first film debuted in 2007, the six movies have grossed more than $3.8 billion in the worldwide box office.

Michael Bay, who has been at the helm of the blockbuster action movies since the first Transformers movie, previously stated Transformers 5 will be his last.