Project Better Place, the electric vehicle company that planned to revolutionize electric vehicles and the automobile market with swapable, leased batteries for EVs, is closing down and liquidating its assets. The company was based in Silicaon Valley, but its main markets were in Denmark and Israel.
Shai Agassi, the company's founder, had a plan to make electric vehicles accessible by making the batteries swappable. Like exchanging propane bottles for your grill, you would pull in to a service station and have the batteries swapped on your EV in about the time it would take to fill a conventional gas tank. Fresh batteries and you're ready to roll.
But the idea never caught on the way it needed to, and Project Better Place is now pulling the plug and entering liquidation. We had some skepticism about the economic model for the company when it was first being rolled out, though we would have been delighted to be proved wrong.
written by Eco Mouse, May 30, 2013
written by Ahmad Wali, June 04, 2013
written by SPREE project, June 26, 2013
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