John DeLorean: Belfast's Stainless Steel Factory and an FBI Cocaine Sting

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John DeLorean left General Motors in 1973 and founded the DeLorean Motor Company in 1975, raising money from entertainers including Sammy Davis Jr., Roy Clark and Johnny Carson and requiring dealers to buy shares to win the right to sell the car. Ireland's Minister for Industry and Commerce, Desmond O'Malley, rejected his pitch as too good to be true, and a Puerto Rico deal fell through when the British government offered roughly $120 million of the $200 million startup cost to build in Dunmurry, near Belfast, during the Troubles. The 660,000 square foot plant and test track went up in 16 months, but production slipped from 1979 to early 1981 and much of the workforce had never worked in heavy manufacturing.

Quality problems with the gullwing doors, panel gaps and alternators forced the company to rebuild cars at quality assurance centers in California, New Jersey and Michigan. The unpainted stainless steel car listed at $25,000, took about 10.5 seconds to reach 60 mph, and sold around 6,000 units against a break-even of 10,000 to 12,000. The SEC halted a $27 million stock issue, Bank of America sued, and Britain withheld further aid. In October 1982 DeLorean was arrested after an FBI videotape caught him discussing a $24 million cocaine deal, hours after Britain announced the factory's closure. Attorney Howard Weitzman argued entrapment, and the jury acquitted him of all charges.

• Local legend held the Dunmurry site was cursed because crews destroyed a fairy fort.
• While the company bled cash, DeLorean pitched a DMC-24 sedan, a DMC-44 off-roader and a DMC-80 transit bus.
• The company tested translucent paints, but no factory-painted cars were ever sold.
• DeLorean later joked, would you buy a used car from me.
• About 2,500 Belfast workers lost their jobs, and leftover inventory was bought by the company that became Big Lots.