After about 34 years, the iconic 1982 model DeLorean, made famous by the "Back to the Future" film trilogy, is going back into production, Stephen Wynne, the car company's CEO said last week.

The stainless-steel, gull winged-door DeLorean was created by former General Motors executive John DeLorean. The original automaker was formed in October 1975 by John DeLorean, with the manufacturing plant being in Northern Ireland. The original MSRP sticker price was $25,000 ($68,000 in 2015 dollars).

The company made just one model, the DMC-12, but the business went bankrupt, despite John DeLorean's attempt to save it with money allegedly from drug trafficking. He was charged and later acquitted of drug trafficking charges. About 9,000 were originally sold.

In 1995, mechanic Stephen Wynne started a new company with the DeLorean Motor name, purchasing the parts and logo of the original company. The DeLorean Motor Company, which moved to the suburban Houston town of Humble in 1987, had been in the business of refurbishing the DMC-12s,repairing and replacing parts for older DeLorean models for consumers around the world before last Tuesday's announcement. DeLorean also has a small number of authorized dealerships.

The company is now literally coming back to the future after the recently passed Low Volume Motor Vehicle Manufacturers Act of 2015, which exempts small volume car manufacturers from the safety requirements applied to most new car makers. The law only applies to "replica" vehicles, that is, cars that resemble the body of another vehicle produced at least 25 years ago such as the Shelby Cobra or the DeLorean.

The 2017 model year DeLorean will have a crate engine from an outside supplier. Buying the engine from a third-party supplier allows the cars to meet emissions requirements (the low-volume production bill only exempts them from things like safety requirements, not environmental), as well as it provides a lot more horsepower than the original DeLorean. The company says it is examining a number of engine options, all between 300 and 400 horsepower, much more than the 130 horsepower engine that was in the original DeLorean, considered by many to be rather slow for a sports car. It's also moving to 17-inch or 18-inch wheels because it's not possible to get high-performance tires on the 14- and 15-inch original rims.

CEO Wynne told reporters he believes he can build about 300 DeLoreans with the supplies in stock and hopes to have the first car completed in early 2017. Wynne said he wants to build about four cars a month.

"It's fantastic," Wynne said. "It is a game-changer for us. We've been wanting this to happen. That was a green light to go back into production. That was previously prohibited. It was against the law to do it."

The prices for the DeLoreans, depending on engine models, will run from $45,000 to $55,000 for a refurbished vehicle to around $100,000 for a one off the assembly lines.