Hey pavie - Thanks!
All good questions, & for the most part - Beyond my purview.
So,... let me preface the following with - I don't know for sure, but this is my rough understanding:
How the process works is - TLC/ICON sells me a dilapidated Toyota FJ40 as a donor vehicle. From this original, legal vehicle, they create the ICON. Very little of the original vehicle remains in the final product. However, this is necessary, in order to classify the vehicle as a restoration. For instance, in my build, only the headlight bezel, bib hinge & vintage registration plate, from the original FJ40 remain.
A similar analogy would be in the home construction/remodeling biz. For example, you can buy an old house & tear it down to the ground,... and as long as you use & retain a certain portion of the original foundation, the rebuild can be consider a remodel,... as apposed to new construction.
Legally, my ICON will be registered as a restored 1971 vehicle.
Most simply put - TLC needs to go about it this way, because it's nearly impossible to become a legal car manufacturer in the US.
Again, all the above is a rough outline from my remedial understanding of the process. However, I do know they (TLC) has done the necessary legal work, to assure it's all above board & legal.
Cheers!
~CLK