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Electric Vehicle Start-Up Has Big Dreams, Big Support
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In just over a year, Silicon-Valley company Better Place has acquired $200 million in venture capital, an agreement with one of the world's largest automakers and a promise of policy support from Israel's prime minister.
The goal of the company is nothing short of a complete overhaul for the $1.5 trillion auto industry. Better Place aims to have tens of thousands of electric cars on Israel's roads by 2011 and has set its sites on England and France as potential markets.
But Better Place wants to be much more than a car manufacturer. At the core of its business plan is an ownership model similar to a mobile-phone carrier--selling electric vehicles at low prices with with monthly service plans that allow drivers to swap or recharge batteries at thousands of service stations and equipped parking spots.
Some insiders call it a pipe dream, but there's no denying the support Better Place has received from both industry and government. Decide for yourself, link to the full story, "The Electric Car Acid Test," below.
Website: http://www.businessweek.com/magazine/content/08_05/b4069042006924.htm?chan=search
