Why EVs Are Making Classic Cars a Strong Investment Path

When the first modern electric vehicles (EVs) became available to the public, believers in the new technology expected them to make internal combustion engine (ICE) vehicles obsolete eventually. Limited edition classic vehicles would be especially vulnerable to a steep value decline — or so they thought.

 In recent years, the opposite effect has taken place. Thanks to the rise of EV conversions, classic cars are regaining value and becoming strong investment paths again.

The EV Revolution Has Increased Classic Car Values

The EV revolution is in full swing, reaching more than 10 million worldwide sales in 2022 and expected to leap by another 35% in 2023. Rather than trading in their gas and diesel vehicles, many people are choosing to retrofit them with electric drivelines. This trend has been the most prominent with rare classic cars.

There are several reasons why classic cars are popular options for EV conversions:

 Many classic cars don’t have functional engines or gearboxes anymore. An EV conversion is the only cost-effective way to make them drivable again.

- Classic cars have less complicated electrical components than modern ICE vehicles, making them easier to convert. They are the perfect test vehicles for this new modification.
- Classic cars are also lightweight compared to newer models, which means they require smaller, less expensive batteries.
- Classic EV conversions benefit everyone, not just the owners. Seeing legendary cars return to their former glory rewards every car lover.

An EV conversion can turn a classic car into a high-powered driving machine again, significantly increasing its value. In the United Kingdom, drivers could see their classic cars rise in value by more than 2,000% after an electric conversion. Yes, you read that number right.

 Environmental initiatives are also swaying more people to convert their older vehicles. The European Union wants to phase out ICE cars by 2035, while seven U.S. states plan to ban ICE car sales soon. If these plans come to fruition, an EV conversion is the only way for people to buy and sell classic cars.

Advantages of a Classic EV Conversion

It might seem unrealistic to convert a classic car from the 1960s into an electric vehicle. However, EV conversions are much more common than most people realize. Electricity has a long history in the automotive industry. There are plenty of examples of early-1900s electric-powered cars, with batteries and all.

 With advanced car modification technology at your disposal, you can have great success with a classic EV conversion. Here are some of the most significant advantages of converting your classic car into an electric model.

1. Environmentally Friendly

A recent study from the International Energy Agency shows the strongest evidence yet that electric cars produce far fewer greenhouse gas emissions than their ICE counterparts. Driving an environmentally friendly vehicle is a big step toward a sustainable future — classic cars deserve to be part of that future.

2. Recharging Is Cheaper Than Refueling

Any longtime EV owner will tell you recharging is cheaper than refueling in the current economy. Gas prices have recently seen a slight decrease, but they are still relatively high compared to pre-pandemic prices. Classic cars tend to have poor gas mileage, so it makes excellent financial sense to convert them to EVs.

3. Lower Maintenance Costs

EVs also have lower maintenance costs than ICE vehicles — especially high-maintenance classic cars. In 2021, 35% of classic car owners spent over $3,000 on repairs and part replacements. After an EV conversion, you don’t have to worry about tune-ups, oil changes and other common maintenance older vehicles need.

4. Greater Accessibility

Most classic cars have manual transmissions, which means a significant portion of the population can’t drive them anymore. The only vehicle that has been successfully converted into a manual transmission EV is the Gateway Ford Bronco, which works with many different Bronco models in Gateway’s inventory. Everything else is automatic. Converting classic manual cars to automatic EVs makes them much more accessible to the average driver.

5. Sentimental Value

Classic cars don’t just have monetary value — they also have lots of sentimental value. Owners develop a strong emotional attachment to their old vehicles. Rather than selling it or letting it collect dust in your garage, you can convert your classic car to an EV and make even more memories with it.

Trending Classic Car Conversions

So far, most EV conversions have occurred with vehicles from before 2000. Classic cars with reputations for durability are also popular EV conversions because people can turn them into daily drivers instead of collectors’ items.

 Expect American classics with great performance reputations like the Ford Mustang — especially the 1965 first-gen Mustang — to be popular EV conversions. Other oldies such as the Chevy Bel Air, Dodge Charger and Cadillac Eldorado are great choices too. Rare editions of these cars like the 1957 Bel Air Convertible will remain relevant thanks to EV conversions.

 Some classic rides like the 1964 Volkswagen Karmann Ghia are already available as EV conversions. They come fully equipped with the motor assembly, battery packs, DC-to-DC voltage converters and adaptors. Most classic EVs from this time period have mileage ranges up to 60 miles on a full charge.Why EVs Are Making Classic Cars a Strong Investment Path - Featured

Europe has also seen a renaissance of luxury vehicles from the 1970s–90s with excellent track records thanks to EV conversions. The upgrade boom greatly benefited big brands like BMW, Mercedes-Benz and Porsche. These models make for great EV conversions:

  • BMW 1602
  • Mercedes-Benz 300E AMG Hammer
  • Mercedes-Benz 280SL Pagoda
  • Porsche 911
  • Rolls-Royce Silver Cloud
  • Jaguar E-Type
  • Aston Martin DB6
  • Volkswagen Camper
  • Volkswagen Beetle

EVs Are Revolutionizing Classic Cars

The EV revolution has allowed classic cars to reclaim their value and relevance in the automotive industry. Owners of old vehicles from the mid-20th century can now give their rides a new lease on life. This development is great news for anyone who wants to keep classic cars on the road.