The Israeli electric vehicle infrastructure company Better Place announced on May 26th, 2013, that it would be filing for liquidation owing to the lack of strong electric vehicle sales to support demand for the company’s services. Following five years of ambitious development of its revolutionary concept for a gas station style concept for electric vehicle charging, one in which drivers would be able to stop by at a Better Place station and simply switch their battery out for a fully charged one and continue on their way within minutes, the Israeli company’s founder ultimately concluded that the EV market was not yet robust enough to create the level of demand necessary to justify the company’s continued operation. The company had received a total of over €650 million in private funding and had the strong support of the Israeli government, as well that of Denmark where the company had also expanded its network, yet was unable to generate a sufficient subscriber base for its €270 per month service.

Source: Israeli Venture Meant to Serve Electric Cars Is Ending Its Run

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