How Much Does it Cost to Convert a Traditional Vehicle into an Electric Vehicle?

Consumers can opt for a new vehicle powered by electric or hybrid technology, but what about converting a traditional car into an electric one? It can be an expensive process, one that has been undertaken both by individuals and large automotive manufacturers. In this article, we explore the costs and realities of converting a vehicle from a traditional internal combustion engine (ICE) to an electric powertrain.

Individual Vehicle Conversion

Do you want to take the wheels out of a conventional car and turn it into an electric vehicle (EV)? In 1994, a personal project showcased the feasibility of converting a 1987 Toyota MR2. The process involved:

Engaging a mechanic to remove the engine, cooling system, exhaust system, and air conditioner. Buying a complete conversion kit, which included a DC motor, speed controller, charger, vacuum system for brakes, PTC heater, breaker cable, and terminals. The cost was a significant $7,500. Adding new springs to support the extra weight of the 18 six-volt marine batteries. Obtaining a custom plate adapted to mount the electric motor to the transmission.

This DIY project took about six months of weekend work but resulted in a fully functional electric car. Such conversion projects are not for the faint of heart, especially when it comes to the financial commitment.

Automotive Manufacturer Case Study

Interestingly, automotive giants like Mitsubishi have taken a similar approach. They repurposed their Kei-class i-Car by converting it into the battery-powered Miev. The conversion process included:

Removing the 660cc four-cylinder engine and transmission. Replacing the engine and transmission with an electric motor and battery pack.

While a brand new Miev in Australia in 2010 cost an exorbitant $54,000, a second-hand one could be found for $15,000. In contrast, the i-Car in its ICE powered version, released around ten years earlier, would have cost around $20,000. The difference in cost, despite a lower manufacturing cost for the electric motor, demonstrates that the profit margins in vehicle conversion are primarily driven by the manufacturer.

Estimated Cost of Conversion

For those considering converting their vehicle, the costs can be substantial. While it's possible to spend up to $15,000 on a conversion kit, you can significantly reduce these expenses by purchasing a cheaper option. At the author's shop, they are currently offering a special sale on kits, slashed to just $4.99! This may seem like a bargain, but it's important to consider the total overall cost of conversion, including additional parts and labor.

Conclusion

The cost of converting a traditional vehicle into an electric one is a significant investment, one that should be carefully considered. While it may be a viable option for some, it's crucial to understand that the financial benefits are often won by the manufacturers rather than the individual consumer. Nevertheless, it remains an interesting and potentially rewarding project for those with the means and interest.