$100M pledged to US-Israeli electric car venture

Nov 01, 2012

U.S.-Israeli electric car venture Better Place says investors have pledged it $100 million in additional financing.

Top shareholder The Israel Corp. says it will pump in $67 million in this round, on top of previous investments of some $250 million.

Better Place Spokeswoman Julie Mullins confirmed the Thursday but said the financing round has not formally closed.

In all, Better Place, which is going through turbulent times, has raised $850 million.

Better Place has spent close to half a developing and deploying a network in Israel, its pilot site. But sales here are weak and founder Shai Agassi abruptly left the company last month.

The Israeli Corp. informed the Tel Aviv Stock Exchange on Wednesday that the current financing round is designed to advance sales.

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Jeddy_Mctedder
1 / 5 (2) Nov 01, 2012
talk about throwing good money after bad. better place has been an unmitigated failure for years. not because of chinese dumping either, and not because it hasn't had enough money either.

battery swapping is simply a poorly conceived idea----have you ever considered if laptops would have worked if they could only recharge VERY SLOWLY and outlets were hard to come by and the risk of charging from your home outlet would be a short circuit, and the safest way to recharge was simply TO RENT A BATTERY FROM A CHARGING SERVICE?

now consider a laptop sold by a battery rental service that only allowed you to charge from the rental service. this is better place. yea. good luck on that. even the die hard greenblogs hate it. http://www.greent...wont-596