No, you would be converting it to a dual voltage motor, which can run from a household supply.
I have never needed to dig the ends of the windings out from a motor, so can't be of much help beyond giving you some clues, which I already have.
On some older motors (like really really old) this might be real risky, as the windings are very delicate and can break.
A careful procedure regardless.
Bob's induction motor write up is totally required to get a basis on things.
Have a look here also for a simple understanding in a practical sense, to get more of a grip on things in the write up afterwards,
and then come back and find the threads easily with your new knowledge.
If you aren't very fimiliar with it, ain't no-one gonna help you any further, as many are very nervous about giving advice on the subject.
I don't want to see more of those threads deleted, so you will have to study.
Beware of some clueless youtubers giving out potentially lethal information.
Those caps whats in inverters will hold a huge charge long after being unplugged...
and on some of the cheaper drives like what I can afford,
those youtubers in question could probably win the Darwin award if they done the same thing as with their free VFD's (which they can't even be bothered to make a dust and bash proof enclosure for, might not look so slick on d' telly)
Read the threads and be safe, there's loads of them on this forum..
a goodly amount of folks here use them or their tablesaws.
Hope that helps somewhat, albeit probably quite annoying to hear.
The upside to having that knowledge, is getting even cheaper machines again like what you have...
Would it have been as cheap if it had a dual voltage motor?
I think not, but that's a pure guess.
Good luck
Tom