Israel takes lead on electric cars with nationwide-grid plan

Energy Matters0


Better Place hopes the project will lead a shift towards electric transport worldwide.

The company said users would pay for a monthly package that would include the price of the car, the battery and use of the grid. It is yet to announce the cost, saying only that the price will be equal to, or less than, the price of a regular car.

Better Place, which was founded by an Israeli-American businessman, Shai Agassi, raised $US350 million ($403 million) from an investor consortium last month, one of the largest clean-technology investments in history.

Mr Agassi said on Sunday that his goal was to help end global dependence on oil.

”Israel has taken on the problem [of oil dependency] and has decided independently to solve this for the entire world,” he said.

Associated Press