If you follow both the money and the science, you see it is not "cheaper" and debatable "better" to convert to electric.

First and foremost, there is not enough coper on earth to support converting all ICE engines to EV, particularly when you include transmission.

Second, mining is extremely environmentally costly in and of itself.

Third, when you look at the precious metals needed for EV batteries, you'll see that the majority of sources and processing are in countries either sanctioned by or not allies of the US/NATO. Converting to EVs becomes theoretical for 99% of anyone reading this in that situation.

I love the idea of EVs, particularly the long term environment issues. Currently is simply not politically feasible to convert, even if the alternative could be the end of human civilization.