Tag: Better Place
Beleaguered EV start-up Better Place faced yet another blow this week, as Nissan CEO Carlos Ghosn declared that rapid-charging, not swappable batteries, will be the predominant charging technology for EVs.
Better Place is shutting the doors of its Australian and American operations, and will concentrate on its Danish and Israeli divisions. The New York Times reported the news just days after Evan Thornley, head of Better Place Australia, left his post as CEO after just three months on the job.
Better Place Australia’s future is in serious jeopardy after its CEO resigned, amid plans to restrict new investment to Israel and Denmark, Better Place’s main markets.
After launching a successful bicycle sharing service, Tel Aviv is looking to launch an electric car program using the same model, as a means of reducing private car ownership.
Shai Agassi thought Better Place was the secret sauce to spice up electric vehicle sales: Swappable batteries as a service, the answer to high battery prices (hidden in a pay-as-you-go model,) range anxiety and long charge times. Instead, Better Place emerges as a novel way to destroy money. Better Place posted third-quarter loss of $71.2 million, greater than $65.8 million a year earlier. The total loss for the January to September period stands at $203 million, Reuters says. Better Place accumulated losses of $561.5 million. (Read More…)