Electric car pioneer runs out of road
A pioneering electric car venture once praised by Bill Clinton has admitted defeat on its plans to bring the technology into the mainstream.
Better Place, which also attracted acclaim from Israeli President Shimon Peres for its plan to create a network of stations at which electric cars could swap their empty batteries for recharged ones, yesterday announced it was filing for liquidation.
Founded in 2007 by Israeli entrepreneur Shai Agassi, Better Place initially raised about $850m (£562m) from various investors including HSBC and General Electric, and in 2008 agreed a tie-up with Renault.
The deal with the French car giant involved a commitment to put 100,000 electric cars on the roads of its test markets Israel and Denmark, but only about 1,300 made it.
Dan Cohen, chief executive of Better Place, said it was "a difficult day for all of us". He added: "Unfortunately, after a year's commercial operation, it was clear to us that despite many satisfied customers, the wider public take-up would not be sufficient".
- 1 Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
- 2 Woman accidentally shoots herself in the head while posing for a selfie
- 3 Art Garfunkel: Paul Simon is a 'monster' with a Napoleon complex
- 4 Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
- 5 Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
Isis 'jihadi bride' claims forced sex with Yazidi girls is never rape because Koran condones it
Woman accidentally shoots herself in the head while posing for a selfie
Isis burns woman alive for refusing to engage in 'extreme' sex act, UN says
Puerto Rico, island of lost dreams: People are leaving the debt-hit territory in droves as near neighbour Cuba's star rises
16-year-old girl beaten and burned alive by lynch mob in Rio Bravo, Guatemala
As a white man, I'm surprised more women aren't tweeting the hashtag #KillAllWhiteMen
Scotland may have to leave the EU even if it votes to stay in, David Cameron confirms
The day that Britain resigned as a global power
Almost a third of school pupils believe 'Muslims are taking over our country', study claims
SNP fury as HS2 finds 'no business case' for taking fast train service to Scotland
Gay marriage 'Bert and Ernie' cake bakery found guilty of discrimination in Northern Ireland
iJobs Money & Business
£40-50K: Guru Careers: We are seeking an experienced Software / C# Developer w...
£45,000 - £55,000: Neil Pavier: Are you looking for your next opportunity for ...
£45,000 - £55,000: Sheridan Maine: Are you a newly qualified ACA/ACCA/ACMA qua...
£50,000 - £60,000: Laura Norton: Are you looking for an opportunity within a w...