Appearing in October 1976,the first prototype of the DeLoreanwas completed by American automotive chief engineer William T. Collins, formerly chief  engineer at Pontiac. The prototype was initially known as the DSV-1, or DeLorean Safety Vehicle. As development continued, the model was referred to as the DSV-12, before changing to DMC-12, the "12" deriving from the target list price of $12,000 upon release.