No-one is doing a bottom of the barrel EV conversion on a run down 2008 toyota corolla. I just don't see who this is targeted towards in any practical sense.
A 2008 Toyota Corolla will still be running in 2030, so it isn't really the prime target for a conversion. A 2014 Audi A4 would be.
Right, but California wants them to, so they are offering a subsidy.
The EV market is still growing and we will have to re-invent a lot of the well-established secondary ICE markets. These markets include engine rebuild, transmission rebuild, and component rebuild (starters, batteries, alternators, water pumps, etc.)
California is subsidizing the creation of secondary markets for reusing EV battery packs while also potentially increasing demand and service life for used cars. A savvy EV converter might target cars with particularly weak or undesirable powertrains for conversion. 2008 Toyota Corollas are already in high demand, but what about a mid-2000s GM crossover SUV?
Damn, if only there was a way for the government to make conversions less expensive and provide an incentive to grow that industry...
Anyway, California already has a pattern of behavior to spend 2 grand to take a polluter off the road. This bill seems to be in the same vein but instead of the car getting crushed, it stays on the road as an EV.
This company has it down to 5000 Euros: https://youtu.be/98mlJ1N50DU
That 5000 figure is after EU subsidies, so who knows how such a system would shake out with CA subsidies, but even still: it's possible.