This is a burgeoning new cottage industry: converting fossil-fuel cars to electric.

Across Europe and the United States, companies converting fossil-fueled dinosaurs into clean electric cars have emerged.

David Lorenz founded Britain's Lunaz, which charges up to a million pounds to revive classic cars.

"Everyone has panicked, everyone has seen we are now going EV, let's change our whole production, let's go to...no. Look at what you've already produced. Look at what can be carried over. These are fundamentally the same vehicles with the same equipment on them. Do not just build new. You have to refrain from that. You've got to look at re-manufacturing what already exists."

What we do here is we take a vehicle that is a problem. We take it off the road and we put it back emissions free. And that is the key fundamental. It has real impact and real change."

There are an estimated 5 million classic cars in the U.S. market alone.

At the top end are companies like Lunaz and Dutch firm Voitures Extravert.

At the bottom end, the French firm Transition-One are working on simple kits to electrify mass-market models like Fiat 500, so cheaper cars can be retrofitted in four hours for under 9,000 dollars.

"We carried out a study recently where we were doing a carbon comparison on these vehicles and compared to a new refuse truck or EV we're talking about 88 percent embedded carbon carried through on one of our vehicles. You have to take that as a key fact. We can't just expect to build new and shift the problem around the world. What we do here is we take a vehicle that is a problem. We take it off the road and we put it back emissions free. And that is the key fundamental. It has real impact and real change."

The growth of EV conversion startups could lead to more regulation, with higher safety standards and costs.

That could make it harder for some smaller firms to keep up in the long-term.

But, for now, the industry appears to be growing as demand for EVs rises.