The Crank helmer, who took charge of Ghost Rider 2: Spirit Of Vengeance with long-time collaborator Mark Neveldine, described the forthcoming movie as "pretty much a reboot" of the Nicolas Cage-starring series.
Discussing his disappointment with the 2007 comic book film, Neveldine told Total Film: "We basically said, we want to do it, [would] absolutely love to do it, but it's gotta be 100% different from the first movie, everything, except for Nic.
"We want the character to look different, feel different, sound different. The backstory of the character's different, the origin of the story is expanded upon in ways that the first movie didn't hint at, at all.
"It's pretty much a reboot, only with the same actor, which makes it: a requel. Or a seboot, I can't decide which one I like better... The first attraction was Nic and the second was the character and just how cool it could be. [I wanted to] kinda make the Ghost Rider movie that I wished I had seen before."
Taylor also dismissed suggestions that the project's $60m (£36m) budget cut would affect the quality of the finished movie, insisting that he and Neveldine are "pretty creative".
He said: "The reports of the budget of Ghost Rider have been greatly exaggerated. We didn't have a lot of money to make this film... but we're pretty creative. It's gonna look f**kin' huge."
Ghost Rider: Spirit Of Vengeance will feature an all new-cast to the original film, which includes Ciaran Hinds, Violante Placido and Idris Elba. It is due for release in the UK and US on February 17, 2012.
Cage previously claimed that the new Ghost Rider will be more supernatural.
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