Israel Jump Starts Electric Car Market

Project Better Place plans to offer drivers long-term prepaid packages for recharging which, the company said, would sharply bring down the cost of electric cars.

Published: 21-Jan-2008

A venture capital-backed plan to be announced on Monday will aim to jump-start the stalled electric vehicles market and make Israel a national laboratory for the world’s first mass roll-out of rechargeable cars.

Renault/ Nissan and startup company Project Better Place, backed by Ehud Olmert’s government, will outline plans to blanket the Jewish state with half a million charging spots and battery-swap stations for electric cars.

Renault is developing an electric sedan to target the Israeli market, and wants to mass-market electric cars there by mid-2011, people briefed on the plan told the Financial Times last week. The carmakers are not commenting on the project ahead of a press conference scheduled for Monday.

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