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DeLorean Pulls Out All Stops to Eclipse Tesla

DeLorean shifts into high gear as the company releases images of its Alpha5 electric vehicle.

The Alpha5 is fast, but can it keep up with Tesla  (TSLA) - ?

The DeLorean Motor Co. released new images and information about its new electric vehicle, the Alpha5.

'Unapologetically Human'

The company said the gull-wing doored vehicle, whose namesake appeared in the "Back to the Future" film franchise, goes from 0 to 60mph in 2.99 seconds, has an estimated range of 300+ miles, and electronically limited top speeds of 155 mph.

"DeLorean is unapologetically human," the company said on its website. "A New Energy brand. We have a clear vision of the future, knowing it does not represent today."

. "There was this enormous responsibility to make sure we honored the history of the DeLorean brand, but an even greater responsibility in curating its future...I think we did both with the Alpha5."

in 1975 and shut down seven years later. 

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Tesla's Model X, which has what the company calls "falcon-wing doors", can go from 0 to 60mph in 2.5 seconds and estimated range of 333 miles. 

Tesla sold 7,306 Model X in 2021 and 14,571 of the vehicles in January to April of this year.

analyst, said DeLorean is not and will not be a competitor to Tesla —" but rather if they can secure several hundred million dollars in investment, they may compete with the likes of Karma Automotive," which is de Vries' old company, which was created from the corporate assets of Fisker Automotive after its bankruptcy.

McDonald is serving as co-emcee at the on June 5, where de Vries is scheduled to speak.

Some commenters noted the similarity in the door design Alpha5 and the Model X with one person of Tesla CEO Elon Musk sitting in what looks like Marty McFly's original ride.

took the Gull Wing Doors from DeLorean," one commenter.

report.

"Despite strains along global supply chains, sales kept rising strongly into 2022, with 2 million electric cars sold worldwide in the first quarter, up by three-quarters from the same period a year earlier," the agency said. "The number of electric cars on the world’s roads by the end of 2021 was about 16.5 million, triple the amount in 2018."

The greatest short term obstacles to continued strong EV sales are soaring prices for some critical minerals essential for battery manufacturing, the agency said, as well as supply chain disruptions caused by Russia’s attack on Ukraine and by continued Covid-19 lockdowns in some parts of China.

In the longer term, greater efforts are needed to roll out enough charging infrastructure to service the expected growth in electric car sales, the report said.