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A mod for GM LSx (I think? some American V8) I've seen is an electric pump that uses the stock pump housing and impeller but replaces the pulley with an electric motor bolted to the housing. It is definitely over 100 bucks, but I imagine you can replicate that kind of thing with less money. A better impeller would save a little energy but would never pay for itself. I've never actually had my hands on a stock water pump so I have no idea how easy this is to do though.
I think the Insight having a belt driven pump was to ultimately save on costs? Nowadays electric water pumps are very common, even on non-hybrids. BMWs have them as standard, Porsches have them as standard, etc. You get better cooling because there's less cavitation, better cooling when at low rpm, and you save energy under most situations.
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