- DeLorean Motor Company is taking pre-orders for its Alpha5 EV.
- To make a reservation, you need to buy cryptocurrency.
- Then, that crypto needs to be exchanged for an NFT.
DeLorean, the car that’s probably best known for its role in the Back To The Future franchise, is making a comeback as an electric vehicle. At least, it should have made a comeback last year, but that hasn’t happened yet.
Despite the lack of a car you can buy, the DeLorean Motor Company (the Texas-based company that uses the branding for the original and also makes DMC-12 parts) has recently opened up the reservations book for its upcoming Alpha5 EV.
However, while other startups go down the easy route by taking in a simple cash deposit or a card payment, DeLorean wants you to get into crypto.
As spotted by CarBuzz, an enthusiastic buyer has to first register on the startup’s online marketplace. Then, they have to buy $2,500 worth of USDC–that’s a cryptocurrency that is equal in value to the American dollar. But to hold crypto, a customer also needs to have a Slush Wallet, which is a digital wallet run by a company called Sui.
That’s not all. After these steps are completed, the buyer must not forget to actually buy an automotive NFT to reserve a spot in line for when the car is actually ready to ship. NFT stands for non-fungible token, and it’s usually used for unique artwork, but in this case, it’s a unique identifier for a car reservation.
The good news is that reservation holders can sell their spot, hoping to make a profit, and there are some build slots up for grabs on the company’s website for as much as $40,000. That’s despite the fact that most of the slots are still free and can be had for $2,500. But that’s where the good news ends.
The bad news is that once you buy an NFT, that money is gone. DeLorean doesn’t offer refunds, so your only chance to get your money back if you’re having second thoughts is to sell your place in line. That could prove quite difficult, though. According to the startup’s website, fewer than 600 people have made reservations so far.
One of the reasons for the lack of interest is the non-existent timeline. Revealed back in 2022, the DeLorean Alpha5 was supposed to go into production in 2024, but the company now says the EV is still in development. There’s also no pricing.
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If it ever becomes a reality, the swoopy coupe is supposed to be capable of driving over 300 miles on a full charge, thanks to a battery capacity of over 100 kilowatt-hours. It’s also supposed to get from zero to 60 miles per hour in under three seconds and on to a top speed of 155 mph. And yes, the pre-production version has gullwing doors, just like the original.
It’s worth noting that the new electric DeLorean has nothing in common with the original. However, if electric classics are more of your thing, you could go for a battery-powered DMC-12 from Electrogenic.