Quantcast

Jewish Journal

JewishJournal.com

November 14, 2011

Electric car venture raises another $200 million

http://www.jewishjournal.com/sci-tech/article/electric_car_venture_raises_another_200_million_20111114

The Renault Fluence Z.E. is the first electric car that will be available on the Better Place network, with sales slated in Israel and Denmark for late 2011. Photo by LSDSL/Wikipedia

The Renault Fluence Z.E. is the first electric car that will be available on the Better Place network, with sales slated in Israel and Denmark for late 2011. Photo by LSDSL/Wikipedia

An electric car venture set to launch a nationwide network in Israel raised another $200 million from U.S. investors.

Better Place, based in California and Israel, now has raised more than $750 million since it was founded in 2007. The new investors include General Electric and USB.

The company is on track to launch its first two networks of electric cars in Israel and Denmark early next year, according to the Israeli daily business magazine Globes.

Israeli-American Shai Agassi founded and heads the company, which is valued at $2.25 billion.

More than 400 Israeli corporations, representing up to 80,000 employee cars, have signed letters of intent to begin switching their fleets over to Better Place as the cars and the service become available, according to Globes.

JewishJournal.com is produced by TRIBE Media Corp., a non-profit media company whose mission is to inform, connect and enlighten community
through independent journalism. TRIBE Media produces the 150,000-reader print weekly Jewish Journal in Los Angeles – the largest Jewish print
weekly in the West – and the monthly glossy Tribe magazine (TribeJournal.com). Please support us by clicking here.

© Copyright 2014 Tribe Media Corp.
All rights reserved. JewishJournal.com is hosted by Nexcess.net
Web Design & Development by Hop Studios 0.1691 / 42