‘From boardrooms to courtrooms—John DeLorean sure knew how to shift gears in style.’
In 1973, John DeLorean, once a rising star at General Motors, left to create his own car company.
His dream was to produce a futuristic, stainless-steel sports car that defied automotive conventions—thus, the DeLorean Motor Company (DMC) was born.
Designed by Giorgetto Giugiaro, the DMC-12 featured striking gullwing doors and a stainless-steel body.
Despite its futuristic appeal, the car was underpowered and plagued with quality control issues, but its bold design captured the imagination.
DeLorean secured funding from the British government, eager to create jobs in Northern Ireland during the Troubles.
A Dunmurry factory near Belfast faced numerous production challenges due to inexperienced workers and budget overruns.
The business plan shifts from ‘stainless steel to’ ‘stealthy deal’.
Sales of the DeLorean DMC-12 were disappointing, and by 1982, the company was on the brink of bankruptcy.
DeLorean, desperate to save his dream, became entangled in a drug trafficking scheme.
In October 1982, DeLorean was arrested in a sensational FBI sting, caught on video handling a suitcase full of cocaine. The $24 million deal was an attempt to fund his struggling company.
In 1984, DeLorean was acquitted on grounds of entrapment, but the scandal destroyed his reputation and ended any hope for his company’s survival.
Ironically, the DeLorean DMC-12 gained cult status after starring as the time machine in the 1985 film Back to the Future, cementing its place in pop culture history.
After the scandal, DeLorean faced numerous legal battles and failed ventures. He remained a charismatic, controversial figure until he died in 2005.
Since then, the DeLorean DMC-12 has enjoyed a cult following. A Texas-based company offers restorations and plans for limited new production.
The DeLorean Affair is a captivating story of ambition, scandal, and the legacy of a car that defied convention and became a pop culture icon.
It’s a tale of dreams and downfall, where the allure of innovation met the harsh realities of ambition.
‘The only business story where the plot twist involves both cocaine and a time-travelling car’
