After more than 30 years, the DeLorean Motor Company will resume production of the iconic 1982 model DeLorean, made famous by the "Back to the Future" film trilogy.
This marks the first time that the car will be manufactured in America, according to an NBC affiliate.
The car company was previously prohibited from producing the famed model because the futuristic designs belonged to John DeLorean's estate and not the auto business, which went bankrupt in 1982.
The company was revitalized by CEO Stephen Wynne and moved to Humble, Texas, in 1987. The company operated as a refurbishment facility, repairing and replacing parts for older DeLorean models for consumers around the world.
"It's huge for us. It means we're back as a car company again," Wynne told NBC.
Wynne estimates that DeLorean Motor Company has enough parts to build nearly 300 replica cars and hopes to have the first car completed in early 2017. Refurbished DeLorean models retail for $45,000 to $55,000, but the CEO hopes to sell the newer models for less than $100,000, according to NBC.