That model has an electrically driven speed control and an oil pump
(which may or may not have its own motor). Those may have to be
rewired as well -- but they probably don't operate on 480 volts now
and may already be wired for 220.

Ignoramus22652 wrote:

Mark, you made me confused, why don't you rewire the 240/480 lathe
motor to run off 240V? That would be easiest and would not require
buying a bulky, and costly transformer, as well as eliminate
transformer losses.

i