Better Place, the Israeli company once considered in the vanguard of the movement for electric vehicles has filed for liquidation after its efforts to establish a commercially viable battery-swap operation in Israel failed.
Founder and electric car advocate Shia Agassi, left Better Place last year and the decision by his successor to file for bankruptcy and liquidate the company is only the latest in a string of setbacks for electric vehicle start-ups. Better Place now joins battery-car makers and suppliers such as Bright Automotive, A123 Battery and Coda that were scrapped after failing to win support from consumers and investors. Fisker Automotive is soon expected to join the list.
Better Place’s decision to cease operation also is a setback for Nissan and Renault chief executive officer Carlos Ghosn who has been a huge supporter of EVs and pushed Nissan to sell the all-electric Leaf. Ghosn was a strong proponent of Better Place which promoted the idea of fast battery swapping to improve battery-car range.