Paul Walker dead: actor's latest film 'Hours' set for Dec. 13 release date after tragic death, shocking car crash footage goes viral, speed a major factor?

On Saturday, November 30, actor Paul Walker and one other individual passed away in a tragic car crash during a Reach Out Worldwide charity event. Walker's rep released this statement following the devastating accident in Santa Clarita, CA:

It is with a truly heavy heart that we must confirm that Paul Walker passed away today in a tragic car accident while attending a charity event for his organization Reach Out Worldwide. He was a passenger in a friend's car, in which both lost their lives.

We appreciate your patience as we too are stunned and saddened beyond belief by this news. Thank you for keeping his family and friends in your prayers during this very difficult time. We will do our best to keep you apprised on where to send condolences.

For more details:

'Fast and Furious' star dies in tragic car crash during charity event at age 40, celebs and fans offer condolences on Twitter [PHOTO]

Authorities believe that speed may have played a major factor in the crash. Here's some shocking TMZ footage from the scene of the explosion:

Rumors suggest that Walker's upcoming film "Hours" is still set for a December 13 release date. It remains unknown if that date will be pushed back. Here's a description of the movie, which was originally released during the South by Southwest Film Festival back in March:

The film is set in 2005, during the ravages of Hurricane Katrina. Nolan (Paul Walker) is the father of a newborn baby, and what should be one of the happiest days of Nolan's life quickly spirals out of control during the wake of a Hurricane that floods the hospital and causes failures in the power supply, Nolan faces a life-or-death situation when no one returns to help and struggles on his own to keep his infant daughter alive inside a Neonatal ventilator, as minute-by-minute passes, the ventilator runs out of power and the minutes become long hours.

RIP, Paul Walker. The "Fast and Furious" star will be missed by family, fans, friends, and colleagues worldwide.