John DeLorean, Date of Birth, Place of Birth, Date of Death

    

John DeLorean

American engineer and executive in the U.S. automobile industry

Date of Birth: 06-Jan-1925

Place of Birth: Detroit, Michigan, United States

Date of Death: 19-Mar-2005

Profession: engineer, entrepreneur

Nationality: United States

Zodiac Sign: Capricorn


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About John DeLorean

  • John Zachary DeLorean (January 6, 1925 – March 19, 2005) was an American engineer, inventor and executive in the US automobile industry, widely known for his work at General Motors and as founder of the DeLorean Motor Company.DeLorean managed development of a number of vehicles throughout his career, including the Pontiac GTO muscle car, the Pontiac Firebird, Pontiac Grand Prix, Chevrolet Cosworth Vega, and the DeLorean sports car, which was later featured (in modified form) in the 1985 film Back to the Future.
  • While still the youngest division head in General Motors history, DeLorean broke away to start the DeLorean Motor Company (DMC), in 1973.
  • However, production delays meant DMC's first car and DeLorean's independent creative opus - the DeLorean - did not reach the consumer market until 1981 (8 years later), where a depressed buying market was compounded by unexpectedly lukewarm reviews from critics and the public.
  • After a year, the DeLorean had failed to recoup its US$175 million in investment costs, unsold cars were accumulating, and the company was in dire financial straits.In October 1982, DeLorean was charged with cocaine trafficking after a former neighbor and confidential FBI informant, James Hoffman, solicited him as financier in a scheme to sell 220 lb (100 kg) of cocaine, worth approximately $24 million.
  • At the time, DMC was insolvent and in debt $17 million.
  • Since Hoffman had approached DeLorean, a man he barely knew with no prior criminal record, fully aware of these financial circumstances, DeLorean was able to successfully defend himself at trial under the procedural defense of police entrapment.
  • The trial ended in a not guilty verdict in August 1984, by which time DMC had already shut down after declaring bankruptcy.

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