Likely true, though the forbidden refurb batteries could be reused in conversions like these[1]. I am tempted to try a conversion of some silly old car (like my high-school Opel GT) but on the downside you don't get airbags, crumple zones etc. to go with your 21st-century electric motors and batteries...
1: https://electrek.co/2019/08/27/startup-electric-retrofits-te...