Michael Pena ("American Hustle") will join the flick as Frank "Ponch" Ponchello to Shepard's Jon Baker. The original sitcom focused on two L.A. police officers that patrolled the highways with comically tight khaki uniforms.
This will be Shepard's first studio film project, but he also wrote, directed and starred in the indie film "Hit & Run." Warner Brothers previously tried to adapt "CHiPS" with "That 70's Show" star Wilmer Valderrama.
No release date for the film has been set yet but it is expected to be released some point in 2015.
Photo/Video credit: Getty Images