Converting a classic car into an EV can bring benefits

dailyrecord.co.uk:

CONVERTING a classic car into an electric vehicle is a growing trend that can also vastly increase its value, according to a study.Just a few weeks ago, Road Record reported on the MINI Recharged project that will see iconic original models swap the traditional petrol engine for an electric powertrain.

Now automotive leasing outfit Vanarama has calculated the prices of the most popular classic cars before and after an electric conversion.

Top of the table is the MGB Roadster, with a standard cost of £5000 but worth £108,000 as an EV – a whopping 2060 per cent increase.A Land Rover Series II soars by 1775 per cent from £8000 to £150,000, while a Ford Mustang rises from £24,000 by 1150 per cent to £300,000.However, Vanarama’s findings have also revealed that higher EV prices don’t necessarily indicate a greater value increase.

An electric version of the Aston Martin DB6 costs £732,000 but has a smaller value increase on the original of only 129 per cent.That’s explained by the DB6 already being a highly sought-after classic, with non-electric prices averaging £320,000 – making it the most expensive car analysed in the research.But Jon Peck, of leading converter Electric Classic Cars, says that, for many owners, it is a passion project and not about making a profit due to the hefty price tag of making the switch.He explained: “Although there’s scope for making a profit, for most customers we speak to it’s a labour of love.