Ahhhh it's no longer an electric reverse, very good

I think this may be one step closer to passing.......
All you need now is to;
figure out if the emissions will meet what's required,
get it in writing that your state will allow it to be registered,
buy and import the kit,
get an engineer to approve the subframe,
buy a R1 engine,
assemble the whole thing,
get it all certified and approved,
and pay the rego.....
Then you will need insurance

I seriously think this may be possible. If you have a week or two spare start doing you homework and find out for sure what is required.
Looking at their price list to get the kit in Australia it will cost at least 3850 pounds ($6265 AUS) plus the R1 stuff and I'm sure their will be a heap of other bills, you may get it on the road for less than $10,000 all for 130bhp ish at the wheels

(R1's have 160 at the crank correct?) consider you can get 160-200at the wheels out of a starlet that will cost about the same, maybe a little more.....
Yes the R1 will make a lighter car, more balanced car, cheaper on fuel, unique, may be easier to fit and with a turbo it may beat the best starlet mini around. It has potential to be a great conversion but it's un-tested here in AUS so you'll be taking a gamble if you go for it, but I'd love to see you do it
