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Robert Downey Jr.'s 'Iron Man 3' co-star Fan Bingbing out, Li Bingbing in Jason Statham starrer 'Meg'

| Aug 28, 2016 07:59 PM EDT

Li Bingbing attends the 'Cafe Society' premiere and the Opening Night Gala during the 69th annual Cannes Film Festival at the Palais des Festivals on May 11, 2016 in Cannes, France.

Robert Downey Jr.'s "Iron Man 3" co-star Li Bingbing, 43, has stepped in to replace Fan Bingbing in "Meg," an upcoming sci-fi thriller film adaptation of Steve Alten's novel of the same name. The former, who portrayed Ada Wong in the 2012 film "Resident Evil: Retribution," will star opposite Jason Statham and Jessica McNamee.

"X-Men: Days of Future Past" actress was originally cast, but had to pull out due to scheduling conflicts, Variety reported. Details on Li's role remain under wraps.

With "The Sorcerer's Apprentice" director Jon Turteltaub at the helm, "Meg" follows an impaired submersible and a group of scientist who are caught at the base of the Mariana Trench. Defenseless, they fall under attack by a gigantic ancient predator called Megalodon and are in need of help.

A former naval captain and soul survivor of a previous Megalodon attack, Jonas Taylor (Statham), is recruited to lead a rescue mission. Carrying his estranged wife among the team on board, he must spare the lives of everyone caught in the disabled submersible.

With an estimated budget of $150,000,000, filming for "Meg" is slated to begin later this year in New Zealand and China. It will be co-financed by Warner Bros. and Flagship Entertainment; Gravity Pictures.

"Meg" will be produced by Colin Wilson, Belle Avery, and Lorenzo Di Bonaventura. Executive producers are Wei Wayne Jiang, Barrie M. Osborne, Randy Greenberg and Gerald R. Molen. It is slated for release on March 2, 2018.

Li began her acting career with Zhang Yuan's "Seventeen Years" in 1999. Her first leading role in an English-language film was "Snow Flower and the Secret Fan" (2011) and was followed by "Transformers: Age of Extinction" and "Resident Evil: Retribution."

Fans can see Li in the upcoming Canadian-Chinese action-fantasy thriller film, "400 Boys," alongside Jodelle Ferland, Maria Valverde, and Charlie Rowe. Set in an adolescent subculture, the film revolves around a battle between old and young generations.

"400 Boys" has already secured a 6,500 screen release in China through Pegasus Motion Pictures Distribution. The film is reportedly budgeted at $26 million.

"It's an original story," Pegasus Motion Pictures Distribution's Raymond Wong told The Hollywood Reporter. "It has a great script, is fast, has a young cast and with a 16-30 target audience, it's the perfect film for us to release in China."

Check out Li as Ada Wong in 2012's "Resident Evil: Retribution" below:

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