Well, I think it's fair to say that nobody saw this one coming, Jamie Foxx is set to reprise his villainous role as Electro in the as-yet-untitled third Tom Holland Spider-Man movie. Foxx starred as Electro alongside Andrew Garfield's incarnation in The Amazing Spider-Man 2 back in 2014. As Sony opted to re-reboot the franchise and a historic licensing deal with Marvel, the move to bring Foxx back is even more intriguing.
In a now-deleted Tweet, Foxx had teased that Electro won't be blue in the new movie. Naturally, this got the fans speculating as to the theory that this could be a version of Electro from a different universe. Spider-Man Far From Home teased the existence of a multiverse, but as we know (spoilers ahead) that was just a clever lie that Quintin Beck (Jake Gyllenhaal) spun to take his belated revenge. However, the Doctor Strange sequel has the sinfully tantalising title of Doctor Strange in the Multiverse of Madness, so it's clear that Marvel still intends to explore the multiverse. It could be a neat way to fold in X-Men, Fantastic Four, and even Deadpool into the MCU.
Perhaps the most significant indication that Electro is a different incarnation is that the character was very much killed to death in Amazing Spider-Man 2. While characters come back all the time in comic books and movies alike, it seems like the multiverse theory could be more than plausible. The mid-credits scene in Far From Home saw J.K Simmons return as J. Jonah Jameson (from Sam Raimi's original trilogy) and outed Peter Parker as Spider-Man, it's going to be quite the senior year. In keeping with the 'Home' theme the previous movies have been subtitled, fans are speculating to the what part three will be called. Homesick, Home Alone, Homeward Bound, Going Home, all have their merit, but given the trash fire that 2020 has been, Spider-Man: Working From Home is my personal favourite.
Production is set to start later this year with a tentative release date of December 17, 2021.