Despite barely being a novel concept, EVs have been rising in popularity because of the development of the technology and infrastructure required to support EVs on a large scale, a growing concern for the climate, and a fight to lower carbon emissions. Even though the demand for EVs rising every year, there have been a few major roadblocks that are affecting the growth and development of EVs in developing countries and households with lower incomes, specifically the high initial cost of building the infrastructure of EVs, EVs being more expensive than regular Internal Combustion Engine cars, and a skeptical consumer market. However, making conversions of ICEs into EVs or Plug-in Hybrid EVs (PHEVs) might circumvent many of these issues, including combating the problem of replacing every single ICE with a brand-new EV in the span of a few decades. This paper discusses the cost, efficiency, and public perception of converting ICEs to EVs and what a viable business model can look like while paying particular attention to customer needs and public perception.