The Model 3 approach takes their unified rear axle (motor,axle,wheels) and mounts it into an existing frame. Then you just need to find a place to stuff the batteries, retrofit some high-voltage electronics, and you're off to the races. One of the drawbacks of that approach is that it changes the stance of the vehicle, but for this Mustang that doesn't seem to matter much - it still looks classic.
Other converters either go for the high end with a model S and fit the motor into a traditional drivetrain for a sleeper build, or they go for the low end and take an old forklift motor and batteries and build what is effectively a street-legal golf cart. Prices range from $5-100k depending on your level of DIY and how dangerous of a classic car you want on the other side of the process.
[1] https://coloradosun.com/2023/06/25/classic-cars-electric-veh...
This claim is implausible, right? The Mustang is unambiguously less aerodynamic than the Model 3; there's no way it is achieving similar efficiency, especially at highway speeds.
EDIT: at one point whoever owned the name also owned a warehouse of spare parts and was going to produce an electric retrofit kit for the old vehicle, and hinting at manufacturing new ones a la retromod. Whoever owns the name now just has concept rendering on their site and a Solana token, so, little more than a meme coin now :(
Personally I think it's pretty damn cool. But I have always been a Mustang fan, and I know that this era of Mustang is not especially collectable. They made quite a large number of them and plenty are still running.
There's no question the first generation of Mustangs are the most collectible.
Unless I missed something, this is a completely unsupported claim by the article. Passion projects and retrofits are nothing at all like manufacturing.
I would be surprised however if this project only cost $40,000, when you factor in the cost of labor and maintaining a facility to do this work.
I suspect that this might be more of a "Mustang body kit" on a Tesla chassis and not retrofitting the Tesla tech into a Mustang chassis + body. Still cool, but maybe misleading.