EV Conversions: As electric vehicles (EVs) become increasingly popular, many car owners are considering whether to buy a new EV or to convert their existing internal combustion engine (ICE) vehicle to an EV. While both options have their advantages, the cost is a crucial factor in making a decision. In this article, we will compare the cost of a new EV to converting an ICE to an EV and which option may be better for you.
Cost of a new EV
The cost of a new EV depends on several factors, such as the make and model of the vehicle, battery size, and range. However, prices have been decreasing in recent years as more EVs enter the market, and incentives are available in many countries to make EVs more affordable.
The cost of a new EV varies between $30,000 to $100,000, depending on the vehicle’s type and specifications. Additionally, incentives such as tax credits and rebates can reduce the cost of the EV. In the United States, federal tax credits of up to $7,500 are available for the purchase of a new EV. However, the tax credit is phased out once a manufacturer sells 200,000 EVs, so not all EVs are eligible for the full credit.
Cost of converting an ICE to an EV
Converting an ICE vehicle to an EV involves removing the engine and installing an electric motor, battery pack, and associated components. The cost of a conversion depends on the type of ICE vehicle, the range desired, and the type of batteries used. A conversion can cost anywhere $20,000 or more, depending on the quality of the parts used and the amount of customization involved.
However, the cost of a conversion does not include the cost of labor, which can add several thousand dollars to the total cost. Additionally, a conversion may require modifications to the vehicle’s frame, suspension, and braking systems to accommodate the weight and size of the electric components.
Which option is better?
The decision to buy a new EV or convert an ICE to an EV depends on several factors, such as cost, convenience, and environmental impact. In terms of cost, a new EV may be a more economical option, especially if incentives are available.
Converting an ICE vehicle to an EV can be a rewarding project for enthusiasts who want to learn about EV technology and customize their vehicles. However, it can be costly and time-consuming, requiring technical expertise and access to specialized equipment.
Additionally, a new EV is likely to have a higher resale value than a converted vehicle. A new EV comes with a warranty and the latest safety features, while a converted vehicle may not have the same level of reliability or safety.
Finally, a new EV has a lower environmental impact than a converted vehicle. A new EV is designed from the ground up to be an electric vehicle, while a converted vehicle may have a less efficient drivetrain and less aerodynamic design, resulting in lower range and higher energy consumption.
In conclusion, while converting an ICE vehicle to an EV can be a fun and rewarding project, it may not be the most cost-effective or environmentally friendly option. A new EV may be a better choice for those who want the latest technology, reliability, and environmental benefits.