The Return of an Icon: Why the Delorean alpha5 Is Shaking up the Automobile Market

From the vehicle’s unique NFT-based reservation process to its inclusion in the latest instalment of the Fast & Furious film saga, Prestige takes a dive into why the revamped DeLorean remains one of the automobile industry’s most anticipated EVs.

It is a fair assumption that the majority of us became familiar with the classic ‘80s DeLorean because of Robert Zemeckis’ movie masterpiece, Back to the Future. A central pillar of the movie’s plot, protagonist Marty McFly and his adventures with his time travelling sports car made the futuristic, gull-winged vehicle an iconic part of cinema history, and with that it propelled the car into mainstream popularity on the automobile market as well.

Despite having reached its peak of popularity in the late ‘80s, until today, many car enthusiasts around the world still have a desire to own a DeLorean due to its unique shape and reputation as a collector’s item…and with the recent announcement of the company’s plans to revive the DeLorean as a futuristic electric vehicle, they might actually be able to do so in 2024.

But, before delving into how the DeLorean Motor Company (DMC) is making strides towards the future, it’s important to recognise the company’s humble yet complicated beginnings.

In 1975, John Z. DeLorean established his motor company with the aim to get into the business of sports cars. However, it wasn’t until 1981 that the first DeLorean DMC-12 was created, an eye-catching stainless-steel car fitted with a 2.85 litre V6 engine that delivered 130 horsepower.

Despite being an exciting addition to the market, the DeLorean’s heydays were ultimately short lived. Between the debut of the first car and 1982, the company only ended up producing a little over 9,000 vehicles before the business went bankrupt.

It is suspected that John DeLorean went beyond the company’s financial means far too quickly, treating himself to lavish homes while promoting his cars using unorthodox yet pricey initiatives, including advertising a 24-karat gold-plated version of the DeLorean that cost four times more than the original steel version in an American Express catalogue.

Only one year after the first car was produced, John DeLorean was arrested on suspicion of dealing drugs to raise funds to save his company. Despite being acquitted, the controversy marked the end of the DeLorean business until 1995 when entrepreneur Stephen Wynne bought DMC with the aim to turn it into a servicing business for the few thousand cars that remained.

Over the years that followed, Stephen was actually able to salvage enough parts to build a total of approximately 20,000 cars and was vocal about his dream of designing a futuristic, revamped version of the DeLorean.

Fast forward to 2022 and the DeLorean Motor Company made an exciting announcement that they would be introducing a brand-new, all-electric version – the DeLorean Alpha5 – to the market as soon as 2024.

Channelling some of the original DeLorean’s signature features, including the iconic gull-wing doors, the Alpha5 is expected to have a top speed of 250 kilometres an hour and will be capable of reaching 97 kilometres an hour in 2.99 seconds. It will also have a 483km + 100kWh battery capacity developed by Italdesign, a firm that worked on the original DeLorean.

Expected to be a rival for the Tesla Roadster and Porsche Taycan, the Alpha5 boasts an indented hood and minimalistic front grille featuring two LED light-bar headlamps nestled on each side of the DeLorean logo. The rest of the vehicle embraces futuristic design codes consisting of swooping curves and striking lines along its doors, as well as a cut-out-style trunk with a large, statement LED taillight stretching across it.

Inside, the Alpha5’s ‘cockpit’ features a digital instrument panel that mimics the DMC-12’s interface. This panel links to another screen nestled in the centre of the vehicle’s cabin, which allows the driver and passenger to adjust the car’s various systems. Beyond prioritising convenience via the digital interior system, the Alpha5 also prioritises comfort, featuring plenty of legroom, storage compartments, and arm rests.

Although the company has been slowly growing the buzz around the car for over a year now, the interest in the Alpha5 hit a fever pitch last month when it was featured in the latest instalment of the Fast & Furious franchise, Fast X. Despite not being available on the commercial market yet, the prototype was included for several reasons according to the film’s production team.

The first is that the vehicle acts a tribute to growing sustainability efforts, as the global automobile industry is moving into an exciting new era, where even the biggest names in motoring are embracing electric and eco-centric vehicles. Second, is the possibility of the saga including time travel in future films, with the DeLorean acting as a nod to the existence of ‘time machines’ in the F&F universe.

If you’re sold on the Alpha5 already, it is important to note that the pre-ordering process isn’t easy as the manufacturers have decided to leverage the concept of NFTs. Potential buyers will have to complete a three-step process: buy an Alpha Club Lifetime Membership for approximately US$ 88; purchase an Evil Digital Twin NFT via the DeLorean Exchange Platform; and then trade, keep, or sell the NFT on a dedicated marketplace.

Each NFT is linked to a physical production slot of the car and there are limited quantities as DMC are only expecting to produce 4,000 vehicles in its initial run.

Interestingly, DMC is not the only company looking to relaunch the iconic DeLorean. John DeLorean’s daughter, Kat DeLorean, has announced that her company, DeLorean Next Generation Motors will be launching their take on the next stage of the DeLorean legacy – the Model JZD – later this year.

Although there is not much information about the car as of right now, the company has released detailed renderings that illustrate gull-wing doors and a sleek overall silhouette.

For more information about the DeLorean Alpha 5, click here.