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Wednesday, July 02, 2008

Video: Israel Corp Invests $15.5 Million Into Project Better Place

With gas prices reaching record numbers, one company called Project Better Place is racing to help push Israeli commuters off of fossil fuels, and on towards electric cars.

Since creating these vehicles, as well as the electric stations accompianing them is not exactly cheap, Israel Corp has decided to invest an extra $15.5 million to insure that this project is a success.

(Globes Online) Israel Corp. [...] is to inject a further $15.5 million into Project Better Place, the electric car project headed by CEO Shai Agassi. [...]

The company said it would invest up to $100 million in the venture. This follows a presentation to the Israel Corp. board of the Better Place budget, including milestones and a fund-raising plan.
Previously Project Better Place has been experimenting in Tel Aviv, although they hope to expand their project throughout all of Israel (and hopefully the rest of the planet in the future).

The cars are still fairly expensive, with price ranges between $80,000-$100,000 (according to Globes) although $40,000 of that amount is for the cars unique electric battery. Here is a brief video courtesy of Israel 21st Century that highlights what this green company is all about.

Project better place is rumored to be in talks with Portugal, although hopefully they will be able to roll out their invention nationwide before the upcoming hydrogen cars from Israel make their debut. ;-)

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