From the company pitch: Electrification of thermal city cars : we replace the thermal engine by electrical engine and batteries (100km of autonomy and 110km/h of maximum speed). This autonomy is a engaged choice to avoid oversized car capabilities and avoid reproducing the opulence on lithium-cobalt that we have on oil.[1]
Ah, the good old days of "if you want an electric car, you have to suffer."
This isn't really a company yet, it's a pitch for funding.
It's perfectly possible to convert existing cars to electric drive. Conversion kits exist.[2] Those guys have conversion kits for most early VWs powered by the little four-cylinder opposed engine. Cost is about $17,000 with battery. Which is a used Tesla pack. Unclear why this new conversion is so much cheaper, unless it doesn't include the battery. Other sellers have conversion kits for other vehicles.
The usual result is a rather heavy car with limited range. Also, conversions tend to leave the transmission in the power train and use a DC motor, which is obsolete electric car technology.