May 26, 2022

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Long term news

DeLorean will unveil new car in California, not San Antonio, despite seeking tax incentives here | San Antonio News | San Antonio

click to enlarge Just like its new car, DeLorean's finances and growth plans are shrouded in darkness. - FACEBOOK / DELOREAN MOTOR COMPANY

Facebook / DeLorean Motor Company

Just like its new car, DeLorean’s finances and growth plans are shrouded in darkness.

Even the reincarnation of the DeLorean Motor Co. will purportedly build its new electric car in San Antonio, don’t expect it to debut here. Instead, that will happen during a California car show in August.

According to a company press release, the car maker’s new EV will debut during Monterey Car Week and will be showcased for three days on the Awards Ramp at the Pebble Beach Concours d’Elegance starting Aug. 18.

The resurrection of DeLorean Motor Co. and its plans to jump into the hyper-competitive EV market was first announced via an online ad during Super Bowl LVI in February. San Antonio Mayor Ron Nirenberg boasted on Twitter the following day that the global headquarters of the revamped automaker would be located in San Antonio and create 450 new jobs.

The original incarnation of the company went bankrupt in 1982.

Since announcing plans to set up shop in San Antonio, the privately owned startup has refused to publicly disclose its number of employees, revenue and production plans. What’s more, experts have raised questions about how successful it will be in entering the competitive EV market.

What is known about the new entity is that it’s helmed by CEO Joost de Vries, the former VP of Sales at Karma Automotive, according to his LinkedIn profile.

Karma Automotive is a spinoff of Fisker Automotive, another EV manufacturer whose assets were sold to the Chinese-based Wanxiang Group Corporation following Fisker’s 2014 bankruptcy. Since then, it’s unclear how many cars Karma Automotive has produced. But, according to an article by Forbes, Karma did receive 75 orders for vehicles in the first quarter of 2021.

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