Michigan-based ALTe LLC is providing plug-in hybrid conversions for fleets of gas-guzzling vehicles. The conversions cost about $30K and have a payback of about 75,000 miles. ALTe LLC suggests that a good time to convert from gas or diesel to hybrid electric is after a vehicle is off warranty, when vehicles usually have enough life left in them to make the investment in conversion worthwhile.
The startup company is pioneering a niche segment of the electric vehicle market with their plug-in powertrain replacement conversions. ALTe LLC expects to be fully operational by the end of 2011.
Key Themes Behind This Trend
- Alternative Fuel Conversions
- There's a growing market for converting gas and diesel vehicles to electric-powered ones, particularly for fleet vehicles.
- Electric Fleet Vehicles
- Private fleets and businesses that operate a fleet of vehicles could benefit from converting their gas vehicles to electric ones to save money in the long run.
- Hybrid Vehicle Technology
- Companies could explore the potential of retrofitting existing vehicles with hybrid technology as a cost-effective and sustainable alternative to purchasing all-new electric vehicles.
Where This Applies
- Automotive
- As electric vehicles continue to increase in popularity and more consumers and businesses convert to electric, there is an opportunity for companies to offer conversion services or electric vehicles themselves.
- Fleet Management
- Fleet operators can lower their costs and reduce their environmental impact by converting their gas vehicles to electric and could also be proactive in seeking out conversion services.
- Sustainability
- There is a growing push towards sustainability across various industries, and converting gas vehicles to electric aligns with that trend while offering potential cost savings as well.
