'Back to the Future' Car: The DeLorean Motor Company Begins Production of DMC-12 Cars; Specs, Release date, and Price

Jan 28, 2016 01:59 AM EST

Many cars have become famous because of their appearance in various Hollywood blockbuster films. Few have such a strange history like the DeLorean DMC-12. By the time it was featured in "Back to the Future", the DeLorean Motor Company had already stopped its production. Now, the company is going back to business thanks to a newly implemented law.

The recent passage of the new law permits the sale of up to 300 historical car replicas per year. As a result, the Texas-based manufacturer is now allowed to start selling brand-new DeLorean DMC-12 models after a 34-year break in production. There are roughly 9,200 DeLoreans that were built during the 1980s, according to Slash Gear.

Surface Transportation Reauthorization and Reform Act of 2015 had a clause in it that allowed for the production of replica cars that don't meet current safety standards.

DeLoreon CEO Stephen Wynn described the development as "fantastic."  In a published statement from NBC, the CEO said they are waiting for this decision to happen and it will be "a game-changer for us."

Next year, the company will start their production. They are planning to make around 325 DeLoreans over a five-year production period. As for its price, the company said each car would cost at least $100,000, depending on engine power.

The new models of DeLorean will offer a V6 engine that pumps around 350 to 370 horsepower, officials said. In comparison to the 1981 model of DeLorean, which only produces 130 horsepower, the upcoming 2017 model will be more powerful.

The next DMC-12s will also boast larger tires and wheels, coupled with modern-day brakes and updated technology. Just like modern cars of today, the new DMC car is set to have heated seats, GPS navigation system, Wifi hotspot and Bluetooth phone compatibility.

Furthermore, the car will have its iconic gull-wing doors.

In order to pass the EPA emission standards, DeLorean vice president James Espey said they are talking with General Motors to supply the DMC-12's engine. The company is expecting to complete the engine source this spring. Moreover, they are examining a number of engine options, all between 300 and 400 horsepower.

According to the Verge, getting the engine from a third-party supplier is good for the DeLorean Company. It allows the cars to have more horsepower and meet the safety requirement.