Better Place is a revolutionary venture making the dream of zeroemission
electric cars a reality. Better Place - led by visionary
entrepreneur and CEO Shai Agassi and Chairman of Israel Corp. Idan
Ofer, who heads the investor group - is installing the infrastructure
which will bring greater convenience and affordability to electric cars
than is currently offered by petroleum-powered automobiles. Better
Place has developed an ingenious business model relying on existing
technology which will make driving cheaper, more convenient and
Better Place will install electric charging points at existing parking
spots so that when drivers park their electric car, they will return to
find it fully charged. When drivers need to travel long distance, they
will pull into one of a host of battery swap stations nationwide, where
their car’s depleted battery will be replaced with a fully charged one in
less time than it takes to fill a car with gasoline.
In 2007, Better Place raised over $200 million in its first capital-raising
cycle and in January 2008 announced its first cooperative venture
with Renault-Nissan and the Israeli government to institute the world’s
first nationwide electric vehicle infrastructure.
In March 2008, Better Place announced a second venture with
Denmark’s DONG Energy and Renault-Nissan to create a Danish
electric vehicle infrastructure, powered by renewable wind energy.
The company is currently in discussions with more than 30 governments
worldwide interested in ending their countries’ addiction to imported
fuels and in reducing the impact of global climate change.