Back in 1975, GM's former chief engineer John DeLorean formed the DeLorean Motor Company (DMC). It only lasted of seven years, closing its doors in 1982 but not before leaving a mark in 1985 thanks to the Back to the Future Franchise. 31 years have passed since the first movie and a Texan company is now bringing them back to life

De Lorean rear quarter

34 years after DMC shut down, it will be raising its gullwing doors again thanks to the newly formed DMC, now based in Houston, Texas. Previously specializing in restoring early DMC-12's, the new DMC will now be able to produce brand new DMC-12's thanks to a law called  "Low Volume Motor Vehicle Manufacturers Act" (H.R. 2675) - which creates a reasonable regulatory structure allowing small companies to produce a limited number of completed replica motor vehicles that resemble the appearance of cars produced 25 years ago or more.

De Lorean X chassis

As for specifications, DMC has yet to announce finalize numbers but according to John Espey, vice president of DeLorean Motor, said these cars will be significantly upgraded from the cars in the ‘80s, engine included. Back then, DMC-12's were powered by a Peugeot-Renault-Volvo 2.8 liter V6 engine that put out 136 PS. Espey says the cars will be powered by a new V6 engine with an estimated power output of 300 to 400 horsepower. For the car to be legally sold in the US, DMC has also added a host of safety features such as airbags, anti-lock brakes, traction control and stability control.

De Lorean rear chase

The new DMC-12 will also get modern interior amenities such as Bluetooth, power seats with heating, a modern infotainment system and navigation. At the time of writing, DMC is targeting 300 cars in its first year of operations. When it comes to pricing, Company CEO Stephen Wynne is currently targeting “under $100,000” for its base price and deliveries for the new DMC-12 are slated for late 2016 to early 2017. DMC will still be selling refurbished DMC-12's for around $50,000.