Israel's Ofer to Invest $30 Mil. in Agassi Electric Car Venture

The total investment in the initial phase of the car venture will be $200 million.

Published: 30-Dec-2007

JERUSALEM - Israel's Ofer Shipping Holdings will invest $30 million in an electric car venture led by entrepreneur Shai Agassi, holding company Israel Corp. said on Thursday.

Ofer Shipping is owned by the Ofer family, which also controls Israel Corp. Israel Corp. earlier acquired a 33 percent stake in the electric car venture after agreeing to invest $100 million.

The total investment in the initial phase of the car venture will be $200 million, giving the Ofer family a majority stake in the venture.

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