Tom Lowe and his Playing Mantis company acquired the rights to the Johnny Lightning trademark and started producing reproductions of the original cars in 1994. This was about the same time that Hot Wheels introduced a "Vintage" line of cars that were reproductions of original 1960s designs. Sales were moderately successful. Interest soon faded as most collectors were not that passionate about the cars even when they were new. They also revived the "Sizzlers" name with electric cars similar to the original Mattel cars. Currently, they sell a line of 1/64 scale adult die cast cars with more detail. Jeff Koch, formerly of Hot Rod Magazine, briefly acted as brand manager for Johnny Lightning, bringing his unique real automotive expertise to the line from 2001 through 2004.
What's it worth? Take a look at this Playing Mantis price guide: sold listings for a value indication.