Back To The Future: The Rise, Fall, & Rise of Delorean
It’s time to go back to the future, but first let’s revisit the past.
The Delorean DMC 12 is famous for its role in the Back To The Future films, but the car itself existed long before its big screen debut.
John Z. Delorean: The Renegade & Driving Force Behind Delorean
The renegade General Motors executive John Z. Delorean earned a lot of press coverage for his anti-establishment behaviour.
Sound familiar? (Ehem, Mr. Musk)
In 1977, Delorean said he wanted to produce his own sports car.
He believed he could have it built in a year.
But it wasn’t until January 21, 1981 that the first Delorean DMC-12 debuted.
The Delorean’s design screamed speed.
Its flying wedge shape and stainless steel finish made it look industrial.
There was even a 24-Karat gold version advertised in an American Express catalog for the 1980 holiday season, with an $85,000 price tag.
The Delorean was built in Northern Ireland and created 2,600 jobs in Belfast, one of the country’s poorest areas at the time.
Much like Tesla, Delorean took orders in advance, and in October of 1980, seven people submitted a deposit for a golden Delorean.
John Delorean himself ran an expensive lifestyle on his company’s dime, knowing full well his cars were not going to be a hit.
The stainless steel Delorean sold for $25,000.
3000 drove on American roads.
Analysts believed the company needed more funds to develop a second car, larger than the DMC-12.
Talks about the possibility of teaming up with another automaker began.
But before that could happen, in 1982, Delorean filed for Chapter 11 bankruptcy.
At the same time police arrested Delorean for drug trafficking.
He sold drugs to raise funds to support his company.
The arrest happened hours after the British government announced it was closing Delorean’s Northern Ireland manufacturing plant.
In addition, two Ohio companies financing Delorean inventories claimed Delorean defaulted on its agreement.
The Future of Delorean
The Delorean Motor Company in Texas now owns the rights to the Delorean name and logo.
The company restores and services Deloreans.
It is also responsible for helping Delorean make a comeback.
Back in 2015 the Low Volume Motor Vehicle Manufacturers Act became law, giving small-scale American manufacturers permission to build up to 325 cars per year without adhering to modern safety regulations.
Delorean saw an opportunity to revamp itself.
The new Delorean model will mirror the classic stainless steel, gulf-wing coupe.
The new body will also emulate the 80s original with modern headlights.
Under the hood the car packs a 350 horsepower engine.
For reference the original only had 130 horsepower.
The interior will feature a new sound system and of course connectivity.
The car is projected to be ready soon for a price-tag of $100,000, so prepare your wallets!
