The DeLorean Motor Company, which hasn't made a car in more than 30 years, is planning to build several hundred new replicas of the stainless steel, gull-winged car featured in the sci-fi movie trilogy Back To The Future.
Thanks to the Low Volume Vehicle Manufacturing Act, which was inserted in last year's transportation bill, companies can build small batches of replica vehicles.
"It's fantastic. It is a game-changer for us. We've been wanting this to happen," DeLorean CEO Stephen Wynne said, according to NBC. "That was a green light to go back into production. That was prohibited. It was against the law to do it."
NPR's Sonari Glinton reports that the cars do not have to meet current safety standards but must meet California and national emissions standards.
The company, which is now based in Humble, Texas, said there are still a few obstacles before production can begin. It posted this statement on their Facebook page Wednesday:
"DeLorean Motor Company has been working for some time to identify a supplier for engines and other parts that must be reproduced to allow production for 2017. A number of hurdles exist before production can begin, and we're still early on in this process of determining the feasibility of moving forward. Further updates will be posted here. Thank you!"
Wynne estimates the company has enough supplies in stock to build about 300 cars, and he hopes new replicas will sell for less than $100,000.