Vin Diesel has announced 'Fast & Furious 7' will be released on July 11, 2014.

The 45-year-old actor was joined by his co-stars in the franchise, including Paul Walker, at CinemaCon on Tuesday (16.04.14) to promote the latest installment in the series, but he also revealed there is room for ''two or three movies down the road''.

The chosen release date means the action-packed movie will compete with Marvel's 'X-Men: Days of Future Past', which comes out in cinemas a week after.

After getting fans excited by the news, Diesel - who is also a producer on the 'Fast & Furious' franchise - hinted at what viewers can expect from the next film.

He said: ''The next one is probably going to be the biggest one of them all.''

Tyrese Gibson joined his fellow actors on stage and joked about how a lot of the scenes were improvised by the cast, who shared a lot of laughs on set.

He mused: ''I'd like to say the jokes were all written out, but a lot of it is us reacting to each other.

''[Diesel] shows up with his pecs all out, we might make a joke about cleavage.''

James Wan is set to helm the seventh film and former director Justin Lin, who helmed the latest film, gave his blessing to his successor.

He said: ''I'm extremely proud to be part of the 'Fast' franchise; it is an experience I will always treasure. It's time for me to move on to other things and I'm thrilled that Universal and Neal have selected James Wan to lead the franchise into its new chapter.''

'Fast & Furious 6' is due for release next month.