There is still some buzz that a new DeLorean model could be on the roads more than 40 years after it featured in the Back to the Future film trilogy and became entrenched in pop culture.
The original DeLorean Motor Company was an American automaker founded by John DeLorean in 1975. Known for its stainless-steel, gull-wing sports car, the company’s rise and fall was dramatic, ultimately leading to a bankruptcy in 1982.
In 1997, Stephen Wynne, a British engineer and car restorer based in Texas, bought the company’s assets, including parts, schematics, and brand materials from the original manufacturer. John DeLorean’s estate disputed the transaction for years, arguing that the trademarks and images were not included in the bankruptcy sale. However, a U.S. federal court settlement granted in 2015 Wynne’s DeLorean Motor Company official rights to use the DeLorean name, logo, and associated trademarks in exchange for an undisclosed payment.
Texas-based DeLorean Motor Company is now focused on building electric vehicles. The first planned model, the DeLorean Alpha5, is an electric sports coupe designed by Volkswagen’s (OTCPK:VLKAF) Italdesign featuring the brand’s iconic gull-wing doors, a 100 kWh battery pack, and a roughly 300-mile range. The Alpha5 is still in pre-production. Initial manufacturing is expected next year.
DeLorean
Some reports indicate that DeLorean will partner to some degree with General Motors (GM) and its suppliers for manufacturing, although the company has not issued any confirmation.
Notably, the next-gen DeLorean built the world’s first blockchain-powered vehicle reservation marketplace, developed on the Sui blockchain, one of the fastest-growing platforms in the space. Slots on the reservation list are tradeable, meaning potential DeLorean buyers can move up or down the waiting list. While the crypto-based system is heavily promoted and enables direct trading of reservation slots, DeLorean has added support for standard payment methods such as credit cards.
The DeLorean brand image still holds some sway in the automobile industry. When Tesla (NASDAQ:TSLA) unveiled the Cybertruck in 2019, Musk acknowledged that its design was influenced partly by the DeLorean’s iconic stainless-steel aesthetic. He has also called the original DeLorean model one of the “coolest-looking cars” ever made.
Looking ahead, if a new DeLorean does make it out of production, the impact on the electric vehicle is expected to be positive. While DeLorean is not anticipated to be any sort of volume player, there could be a halo effect of positive headlines from the EV cool factor. After all, LEGO just unveiled a new Back to the Future DeLorean set, showing the timelessness of the brand.