Power About De Lorean
The De Lorean Motor Company (DMC) was a short-lived automobile manufacturer formed by automobile industry executive John De Lorean in 1975. It is remembered for the one model it produced – the distinctive stainless steel De Lorean DMC-12 sports car featuring gull-wing doors – and for its brief and turbulent history, ending in receivership and bankruptcy in 1982. Near the end, in a desperate attempt to raise the funds his company needed to survive, John De Lorean was filmed appearing to accept money to take part in drug trafficking, but was subsequently acquitted of charges brought against him on the basis of entrapment.
The De Lorean DMC-12 shot to worldwide fame in the Back to the Future movie trilogy as the car transformed into a time machine by eccentric scientist Doctor Emmett L. Brown, although the company had ceased to exist before the first movie was made.
Texas entrepreneur Stephen Wynne is the owner of Delorean Motor Company.
History
Beginning
John De Lorean founded the De Lorean Motor Company in Detroit, Michigan on October 24, 1975. He was already well known in the automobile industry as a capable engineer, business innovator, and youngest person to become a General Motors executive. Investment capital came primarily in the form of business loans from the Bank of America and from the formation of partnerships and private investment from select parties, including The Tonight Show host Johnny Carson. Money was also gained later through a dealer investment program in which those dealerships offering De Lorean's cars for sale were made shareholders in the company.
