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.
EV Business Niches
ALTe LLC Provides Electric Vehicle Fleet Conversion
Trend Themes
1. Alternative Fuel Conversions - There's a growing market for converting gas and diesel vehicles to electric-powered ones, particularly for fleet vehicles.
2. 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.
3. 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.
Industry Implications
1. 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.
2. 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.
3. 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.