Unknown to DeLorean, James Hoffman was actually a convicted drug smuggler, who, in exchange for leniency, struck a deal with federal authorities to become an informant.īecause of DeLorean’s busy schedule in meeting with numerous investors, it took quite a bit of effort on Hoffman’s part to secure an in-person, one-on-one meeting with DeLorean he finally succeeded on July 11.
He was approached by one such investor named James Hoffman on June 28, 1982, who claimed to have a business opportunity to help save DeLorean’s company. To this end, he spent much of 1982 desperately seeking investors for his failing company. This led to severe economic troubles for the company.ĭeLorean needed $17 million to save his company from collapse. Unfortunately for the car creator, his namesake car did not sell well when it was originally produced, from January 1981 until the Belfast, Northern Ireland, plant’s closure in December 1982. The DMC-12 was the only model of automobile produced by the DeLorean Motor Company, named for its founder, auto engineer John DeLorean. In the Back to the Future film trilogy, a DMC-12 automobile (or more commonly known as a DeLorean) is converted into and used as a time machine throughout the three movies.
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