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Wave Race producer Shinya Takahashi recently was interviewed by Fandom at the BAFTA Awards, where he hinted that the series may see some sort of revival soon, whether through a new game or a re-release.
When asked whether the game could make an appearance in Nintendo Switch, Takahashi answered:
“You may see that game again. We have been trying to make many games and that may be one of them … I personally love Wave Race!”
The most recent Wave Race game is Wave Race: Blue Storm, which is available for Nintendo GameCube.