The American automotive industry is going back to the future, or back to the past if you want to look at it literally. Following over three decades of inactivity, the DeLorean Motor Company will once again begin production on DeLorean vehicles, which were made famous in the "Back to the Future" film series.
The uniquely designed silver cars ceased production following the arrest of company founder John DeLorean. DeLorean was arrested on drug charges, and his company soon went bankrupt, NBC Southern California reported.
DeLorean Motors CEO Stephen Wynne spoke of his excitement regarding his company's upcoming renaissance "It's fantastic. It is a game-changer for us. We've been wanting this to happen," he said, according to Click2Houston.com. Wynne was the man who moved DeLorean Motors to the Houston area, specifically the town of Humble, Texas in 1987. However, up until now, they have spent their time at the headquarters renovating old DeLoreans. Production on new DeLoreans was prohibited due to a federal law, but a recent change in that law has allowed new production to commence.
"That was a green light to go back into production. That was prohibited. It was against the law to do it," Wynne said. The amendment in the law will allow the car to be produced at a low volume, with 300 cars estimated to be built. The company also hopes to push day-to-day production from one car a month to a car per week.
Refurbished DeLoreans currently cost between $45,000 and $55,000, and the automaker hopes to sell the newly built cars for less than $100,000. DeLorean Motors hopes to have the first set of new DeLoreans done by early 2017, Fox 8 Cleveland reported.
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