Here’s what you’ll learn when you read this story:
- DeLorean Motor Company is now owned by Stephen Wynne, who purchased the brand’s intellectual property and trademarks after the manufacturer filed for bankruptcy in 1982.
- The brand used to manufacture spare parts for original DeLorean DMC-12 vehicles until recently, when it made a bid to develop another fully fledged automobile, the Alpha5 EV.
- DeLorean recently announced that customers will only be able to make reservations for its upcoming electric vehicle using cryptocurrency.
While the DeLorean Motor Company (DMC) has been under new ownership for quite some time now, the now Texas-based outfit is working on a new sports car. It’s called the Alpha5, it’s all electric, and you can’t reserve one with United States currency. Instead, you’ll need to pay for your $2,500 spot in line using cryptocurrency.
DMC recently partnered with Patrick Stewart to launch the brand’s on-chain vehicle registration initiative. Dubbed the “Delorean Marketplace,” the platform would allow customers to buy and sell their build slots for the brand’s all-electric motor car. And that’s a big deal, as it’s been over 40 years since DeLorean has designed, built, or even sold a vehicle. Before the Alpha5’s release, DMC was only responsible for manufacturing replacement parts for its famed DMC-12—the one we all know and love for its spot in Back to the Future.
Why?
You’re probably not the first person to ask why DeLorean would frankly unnecessarily complicate the purchase process with a blockchain approach. “Since DeLorean’s emergence in the 1980s, the brand has stood as a symbol of vision, rebellion, and futuristic innovation,” says Cameron Wynne, DeLorean’s Chief Brand Officer. “By using blockchain technology, we’re setting a new standard for the automotive industry.” The press materials for the program’s launch show more concrete answers about why the brand went this direction.
If you ask us, it seems as though the idea to use blockchain and Non-Fungible Tokens (NFTs) was potentially scheduled to roll out alongside the Alpha5’s 2022 reveal when NFTs were a much hotter commodity. While the concept of owning digital property is supposedly making a steady comeback, it’s not nearly as exciting as it once was. Cryptocurrency is another equally contested talking point, as the value of the dollar is not guaranteed with our current economic situation.
Regardless, we’re still interested in understanding how Delorean’s new vehicle reservation system could change the game.
How?
While DeLorean does list a fair few benefits of going with its blockchain-powered vehicle reservation system, we should warn you that there’s some assembly required to put your name down for an Alpha5. First and foremost, you’ll need to register on DeLorean’s web marketplace. You’ll then need to set up a slush wallet, which is effectively a digital bank that holds your cryptocurrency; you’ll then be able to buy $2,500 worth of crypto, which you’ll use to buy one of DeLorean’s automotive NFTs that will secure your spot in line.
Despite the ability to sell your spot in line, we should note that the initial $2,500 deposit is non-refundable. And that’s bad news, as there are currently fewer than 600 reservations for the new-school DeLorean. Like many electric vehicles, the timeline for the Alpha5’s release isn’t what we’d call predictable. Following its first reveal in 2022, the vehicle was supposed to go into production come 2024. We’re now in 2025 and rumor has it that the EV is still in production. For context, the brand was planning to build 9,531 vehicles—one more unit than the original DMC-12. That target was since slashed in half, and we likely won’t even get that far.
The Car
So what would customers be getting for Alpha5’s estimated $150,000 price tag (give or take $25,000)? Quite a lot, according to DMC. The press materials claim over 300 miles of range along with the ability to sprint to 60 mph in just a sneeze under three seconds. Recharging is fast too, with its claimed 150 kW peak charging rate. The brand also claims a .23 coefficient of drag, which would put it about level with the current Tesla Model 3. Perhaps the angular styling of the original wasn’t slippery enough for the engineers. For context, the DMC-12’s boxy aesthetic pushed through the air with an approximate .54 drag coefficient.
We’re pleased to report that DeLorean’s Alpha 5 is still designed by the same Italdesign studio that did the original. And that’s good news. Keen readers will know Italdesign was founded in 1968 by Giorgetto Giugiaro and Aldo Mantovani—some of the best. Collectively, they’re responsible for many of the all-time prettiest cars in the history books. If we look at Giugiaro, he was responsible for absolute beauties like the Lotus Espirit, Maserati Bora, and the Volkswagen Scirocco to name a few. We could elaborate, but collectively, the studio has given us some absolute legends, such as the first Volkswagen Golf GTI and the early 2000s Mini Cooper refresh, among many others. While the Alpha5 isn’t quite as groundbreaking as some of Italdesign’s greatest hits, we’re well aware that aerodynamics don’t always translate into beauty.
What’s Next?
For a brand that enjoyed such great success, it’s unclear if it will be able to re-ignite the same kind of excitement it once brought. Renders of the new car reveal several nods to the original, including the same gull-wing doors, rear-window gullets, turbine-style wheels, and wrap-around lightbar. However, with its alleged asking price, it’s unclear how many customers will want to get their physical—or even digital—wallets out to buy one. For context, that would mean they’d have to say no to vehicles like BMW’s i7 ($105,700 MSRP), Audi’s e-tron GT ($126,795 MSRP), Mercedes-Benz’s EQS Sedan ($104,000 MSRP), and even the Porsche Taycan 4S for $119,400 MSRP.
Matt Crisara is a native Austinite who has an unbridled passion for cars and motorsports, both foreign and domestic. He was previously a contributing writer for Motor1 following internships at Circuit Of The Americas F1 Track and Speed City, an Austin radio broadcaster focused on the world of motor racing. He earned a bachelor’s degree from the University of Arizona School of Journalism, where he raced mountain bikes with the University Club Team. When he isn’t working, he enjoys sim-racing, FPV drones, and the great outdoors.
