Independence Day 2 release date is scheduled on July 3, 2015, however with the recent development with the project speculations are now circulating that it may be delayed.

The highly anticipated sequel's plot is having a rewrite as news came in that Will Smith will no longer reprise his role for the film.

Smith made it clear that he's in a strict "no sequel" policy, thus he did not want to turn into "the sequel guy." However, many of his rumored films are actually follow-ups of his successful movies eg., Bad Boys 3, Hancock 2 and I Am Legend 2 to name a few.

Roland Emmerich and Dean Devlin first wrote their draft of the screenplay for Independence Day 2, rumor has it that they wrote a version with Smith and another without him. James Vanderbilt continued their work on both versions of the script.

According to online reports, Independence Day 2 movie plot will be picking up in real-time, around 20 years after the first release date. Co-writers Dean Devlin and Roland Emmerich, who's also be helming the sequel, revealed that the film will take place in an alternate present-day set up, where the humans have spent the past 20 years yielding the alien technology, which was featured from the first film.

According to Devlin and Emmerich, Independence Day 2 movie plot is actually a two-part narrative arch, under the working title Independence Day Forever Part I & II.

"I think [Fox] decided to only do one first," says Emmerich, while White House Down's writer James Vanderbilt will do the polishing of the script.

"The humans knew that one day the aliens would come back. And they know that the only way you can really travel in space is through wormholes. So for the aliens, it could take two or three weeks, but for us that's 20 or 25 years."

Despite Independence Day 2 being set 20 years following the events of the original film, the sequel will distinctly feature a futuristic theme, basing on the scenario from the first film, where the humans discovered advanced technology from the aliens.

 "It's a changed world. It's like parallel history. [Humans] have harnessed all this alien technology. We don't know how to duplicate it because it's organically-grown technology, but we know how to take an antigravity device and put it in a human airplane."

However, with Carter Blanchard being tapped by Fox to rewrite the script, the entire storyline could be scrapped, or yet again there could just be minor adjustments for the film.

Although, Will Smith will not be back for the sequel half of the original characters are expected to make a comeback, with half of them being new character. President Thomas J. Whitmore played by Bill Pullman with MIT graduate who became a cable repairman Dave Levinson played by "Jurassic Park" star Jeff Goldblum, who's very much willing to offer his services for the film, will be reprising their roles for the sequel.

"It's still some of the same characters, but also new younger characters; it's a little bit like the sons take over. The first one ends on a little success, but only enough to give the humans hope. And then in the second one they free themselves again [from the aliens]," Emmerich revealed.

"They've talked to me about it, and I've talked to them about it and they're excited and I'm anxious and eager to see - I haven't read anything. I think they're trying to put it together," the director added.

What do you think of the latest Independence Day 2 release date news Kpopstarz readers? Feel free to comment below.