Currently reading: Stock take: Classics plug in to EV demand

Converting classic cars into EVs is becoming big business - but does it have a future?

The conversion of classic cars to run on electric power was once seen as a hobby industry, something done by people in their garage in the same way as other, one-off modified car projects.

Today, though, it is big business, with a constant flow of announcements about new companies either creating the powertrains themselves or converting classic cars. It’s a controversial subject among enthusiasts, but whether you agree with it or not, it is becoming a multimillion-pound business. It even grabbed the attention of David Beckham, who recently became a shareholder in Silverstone-based high-end conversion company Lunaz.

It is also an industry surrounded by a great deal of uncertainty when it comes to regulation, standards, safety and the question of cost versus value. With many classics too old to require an MOT, there are no proper rules about what can be done and the implications there might be for safety.

These are all issues that some companies are trying to address, including Zero EV, which supplies a number of well-known classic car conversion companies. It also manufactures complete kits to convert classic Porsche 911s. Zero EV’s founder, Chris Hazell, is working on a range of ways to introduce industry standards.

His company is in a good place to do so, because it’s the first electric vehicle conversion operation to become a member of the National Franchised Dealers Association (NFDA).

This allows Zero EV to work with the organisation on creating standards. Hazell is also building an online database platform similar to those used by car makers.

The introduction of standards is something that Gerry Hughes, director of Swindon Powertrain, says he would definitely support. His company supplies electrical systems to a number of classic car conversion companies as well as engines for the British Touring Car Championship. He says that certification and homologation is all being done at a local level by the vehicle builders themselves but stresses that it is a very complex subject.

“What is good for one market isn’t necessarily good for another,” he said, pointing out that when it comes to conversions, the UK is more accepting than many other markets. Hughes would like to see the implementation of safe working practices and recommends that technicians attend annual workshops on high-voltage applications.

Conversions are being looked at by car makers as well, although production remains unconfirmed. Jaguar Classic converted an E-Type to run on battery power, while Aston Martin Classic Works created an electric DB6 using a reversible cassette system that could be switched between the original petrol engine and electric. Both are not being developed further at this stage.

So for now, the space is being left to the independents. Dave Cummings of Aston Workshop is working with Swindon Powertrain to convert two Aston Martins to electric. He believes that heritage is less about what’s under the bonnet and more about being able to drive the cars, especially as we adopt more climate-friendly solutions.

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However, many take the view that classic cars travel so few miles that they have a minimal impact on the environment and should therefore not be penalised by legislation. Is there really a need to convert them?

“Broadly speaking, the reasons can be categorised into reliability, usability, environmental responsibility, geographical context, engineering exclusivity and discretion,” said Cummings. “I fully expect that as time goes by, preservation and refinement can be added to that list as appreciation of the emerging technology grows.”

Hughes said: “Is it different from what the original manufacturer intended? Yes, but things are different now. Today, it is a multi-faceted, multi-dimensional discussion, but what will this conversation be in five to 10 years?”

It might not be a topic for discussion by then, but in the meantime, standards will be drawn up and there’s a possibility of legislation, too. Both are likely to add to the already high costs of conversions, which can run into tens and even hundreds of thousands of pounds. Today, it is an industry in its infancy, and while not everyone approves, it’s certainly creating a new genre of nostalgic motoring.

Is there value in converting a classic to electric?

The short-term answer is no, at least for now. If you remove the handcrafted engine from a 1990s Ferrari Testarossa and replace it with second-hand batteries from an accident-damaged Tesla, which is what many of the conversions use, then most people feel that what you have is a Tesla in a Ferrari suit.

Models officially classed as historic or vintage can even have that status removed. FIVA (Fédération Internationale des Véhicules Anciens), the historic vehicle association that operates across Europe, was adamant on this when we spoke to its chairman, Lars Genild.

“To FIVA, having a historic vehicle is not a question of making things as easy as possible but to protect, preserve and promote our cultural heritage,” Genild said. “When changing the whole drivetrain of a historic vehicle, the vehicle no longer complies with the Charter of Turin and the technical code and loses the historic status.”

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The organisation said it is important that conversions are reversible, in order to allow a future owner to return a model to its original state. However, it’s clear that the market has not yet made up its mind about these vehicles.

“Generally speaking, conversions are somewhat negative for value, unless they can be converted back to original without any traces of major works and all original parts are kept,” said Dietrich Hatlapa, chairman of the Historic Automobile Group International. “Value-wise, they are totally different from their classic originals.”

Peter Haynes, marketing director for Europe at auction house RM Sotheby’s, said: “Currently, the used market for electrified classic cars is uncharted territory and we have no data that would allow us to make a judgement on values and demand. To electrify classic cars is a worthy cause that will cater for what is, currently, a niche market, although the output of newly converted cars from the specialists in the market seems to signify ready demand.”

That’s certainly what Dave Cummings of Aston Workshop hopes will be the case. He suggests that the rarity of a converted classic should actually make it more valuable to the right collector.

However, until converted classics start coming up for sale and appearing in auctions, it’s difficult to tell what the real impact will be on values and whether the high costs of conversions is money well spent.

Mark Smyth

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bol 16 August 2021

I look forward to the time when it's economically viable to do decent ev conversions on plentiful fun cars, rather than just the stupidly expensive and rare. Bring on electrified MR2s, MX5s, 986 Boxsters and Z3s. There is no sign of a mainstream manufacturer making light, fun, affordable electric sports cars any time soon, so this is our best future proof option. Please one of you, get on and productionise kits!