Break the ICE: What Happens to Traditional Cars When EVs Rule the Road?

Abstract

The UK is banning the sale of new internal combustion engine (ICE) cars from 2030. As the deadline approaches, there are several factors that could come into play which will affect the ICE market. The ideal scenario, is that EVs will reach price parity with today's ICE cars, making the transition straightforward, but it is possible that EVs remain unaffordable for most people. However this transition turns out, what will happen to all those older ICE cars? The article looks into the most likely scenarios, from retrofitting them with EV batteries, to a boom in exports of old ICE cars or it might be an opportunity for the classic car market.