Entertainment Weekly reports that the former Prison Break star will play driving and kung-fu expert Frank Martin, the role originated by Jason Statham in three films between 2002 and 2008.
Discussing the new Cinemax series, Vance said: "It's high octane. Fast-paced. Action-packed. [There's] car chases, stunts, fights, beautiful girls, villains, heroes [and] guns. It should be a lot of fun."
The actor also confirmed that he is undergoing training to prepare for the show's demanding action sequences.
"I'm on a fitness programme at the moment," he said. "It's more stamina work than anything, because we will be shooting for five months and that's a long time to sustain all the physical activities that we've got on the show."
Vance added that he has not yet spoken to original Transporter star Statham about the 12-episode adaptation.
"I'm sure I'll cross paths with Jason down the line and we'll have a good old chat about it then," he suggested.
The Transporter will be executive produced by the original film's co-writer Luc Besson and will premiere in 2012.
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