The DeLorean, a name synonymous with gullwing doors and time-traveling adventures in the Back To The Future franchise, is poised for a comeback. However, this isn’t the DeLorean of the 1980s. The new DeLorean Motor Company, a Texas-based entity that also supplies parts for the original DMC-12, is venturing into the future with an all-electric vehicle: the DeLorean Alpha5EV. While the revival was anticipated last year, the actual car remains elusive. Despite this, the company has optimistically opened its reservation books for this futuristic coupe.
The Alpha5 aims to capture the spirit of its predecessor while embracing modern automotive technology. It promises a sleek design, impressive performance figures, and, yes, those iconic gullwing doors. However, prospective buyers will find that securing a spot in line for this electric vehicle involves a decidedly 21st-century approach, diverging significantly from traditional car reservation methods.
Instead of a simple cash deposit or credit card payment, DeLorean is steering potential Alpha5 owners into the world of cryptocurrency. As reported by CarBuzz, this unconventional pre-order system requires several steps. First, enthusiasts must register on DeLorean’s online marketplace. Then, they need to acquire $2,500 worth of USDC (USD Coin). USDC is a type of cryptocurrency known as a stablecoin, meaning its value is pegged to the US dollar, theoretically maintaining a 1:1 ratio.
To hold this USDC, customers must also set up a “Slush Wallet,” a digital wallet provided by a company named Sui. But the journey doesn’t end there. The crucial final step is to exchange this cryptocurrency for an automotive NFT (Non-Fungible Token). An NFT is a unique digital certificate, stored on a blockchain, that represents ownership of an asset. While commonly associated with digital art, in this case, the NFT serves as a unique identifier for your car reservation, securing your place in the production queue for the DeLorean Alpha5EV.
This approach is a bold move, setting DeLorean apart from other automotive startups that typically opt for more conventional reservation methods. It introduces potential buyers to the complexities of digital assets, a realm that might be unfamiliar to many traditional car enthusiasts.
For those ready to embrace the digital frontier to reserve their DeLorean Alpha5EV, the process involves several distinct stages. Understanding these steps is crucial before committing funds:
| Step | Action Required | Details & Considerations |
|---|---|---|
| 1. Register | Create an account on DeLorean’s online marketplace. | Standard online registration process. |
| 2. Acquire Cryptocurrency | Purchase $2,500 worth of USDC (USD Coin). | USDC is a stablecoin pegged to the US Dollar. This may involve using a crypto exchange. |
| 3. Set Up Digital Wallet | Create a Slush Wallet (managed by Sui). | This wallet is required to hold your USDC and later, the NFT. |
| 4. Purchase NFT | Exchange the $2,500 USDC for an automotive NFT. | This NFT represents your reservation slot. This step is crucial and finalizes the non-refundable payment. |
The use of NFTs for reservations does offer one potential “good news” aspect: reservation holders can sell their spot, potentially for a profit. Indeed, some early build slots are reportedly listed on the company’s marketplace for as much as $40,000, a significant markup from the initial $2,500 reservation cost. This creates a secondary market for these digital reservation tokens. However, it’s important to note that many slots are still available at the base $2,500 price.
This is where the “bad news” comes into sharp focus. Once the NFT is purchased, that $2,500 is effectively gone. DeLorean does not offer refunds for these NFT reservations. If a buyer has second thoughts or circumstances change, their only recourse is to attempt to sell their NFT reservation to another interested party. This could prove challenging, especially given the current market dynamics. According to DeLorean’s website, fewer than 600 people have made reservations so far, suggesting that demand might not be high enough to easily offload an unwanted spot, particularly if the project faces further delays or skepticism.
| Aspect | Details |
|---|---|
| Initial Reservation Cost | $2,500 (via USDC for NFT) |
| Refund Policy | Non-refundable |
| Resale Potential | Yes, NFT can be sold. Some listed for up to $40,000. |
| Current Reservations | Fewer than 600 (as per company website data). |
Should the DeLorean Alpha5EV transition from concept to reality, it promises to be a compelling electric vehicle. The “swoopy coupe” design, showcased in pre-production versions, retains the iconic gullwing doors that made its ancestor famous. Beyond aesthetics, the performance targets are ambitious:
| Performance Metric | Target Specification |
|---|---|
| Range (Full Charge) | Over 300 miles |
| Battery Capacity | Over 100 kilowatt-hours (kWh) |
| 0-60 mph Acceleration | Under 3 seconds |
| Top Speed | 155 mph |
| Signature Feature | Gullwing doors |
These specifications position the Alpha5 as a high-performance luxury EV, competitive with other emerging and established electric sports cars.
One of the significant factors contributing to the low reservation numbers is likely the “non-existent timeline.” The DeLorean Alpha5EV was first revealed in 2022, with an initial production target of 2024. However, the company now states that the electric vehicle is “still in development,” with no firm revised production date or final pricing announced. This uncertainty can deter potential buyers, especially when coupled with a non-refundable deposit system involving cryptocurrency.
It’s also crucial to note that this new electric DeLorean has no direct lineage or shared components with the original DMC-12, beyond the branding and design inspiration. For enthusiasts specifically seeking an electrified version of the classic, companies like Electrogenic offer battery-powered conversions of the original DMC-12, providing a different route to owning an electric DeLorean.
The success of the DeLorean Alpha5EV will hinge on the company’s ability to navigate these development challenges, solidify a production timeline, announce pricing, and build confidence among a wider base of potential customers beyond the initial crypto-savvy enthusiasts.
