The film was adapted from Jeff Guinn's non-fiction book Go Down Together: The True, Untold Story of Bonnie and Clyde, which offers a "revisionist take" on the legend of two young lovers who went on a bank-robbing spree throughout the Depression era, killing at least seven people.
Sheldon Turner -- of Up in the Air fame -- and David Auburn from Proof will pen the script for the film.
Clarke is best known for playing Daenerys Targaryen in HBO's Game of Thrones and is currently shooting the upcoming Terminator film in the role of Sarah Connor. Hoult will next be seen in Bryan Singer's X-Men: Days of Future Past.
Notable deaths of 2014 [PHOTOS]