Morgan Stanley Doesn't Invest without a Business Plan

Project Better Place founder answers his critics who claim his electric car project isn't tenable.

Published: 23-Jan-2008

Shai Agassi today presented his electric car venture Project Better Place at the DLD Conference 08 (digital, light, design) in Munich where he attracted considerable attention. In an interview with "Globes" afterwards, he responded to criticism that the electric car was unviable.

"Globes": What is your response to arguments that the electric car venture is unviable?

Agassi: "I thank those who say that the electric car venture is unviable, because it means that I'm a magician. I was able to raise $200 million without a business plan… obviously that isn't the case. Enterprises like Israel Corp. and Morgan Stanley don’t put in money without seeing a business plan, and this was one of the strongest business plans I've ever seen."


The bikes will make their debut appearance in Ed's new comedy TV show, 'Living with Ed' which broadcasts Sundays at 10pm ET/PT on HGTV.

The scooters top out at a 25mph speed, although the ones on loan to the Sheriff's Department are calibrated to travel no faster than 18mph.

Powered by advanced lithium-ion batteries and two 67bhp (50kW) electric motors to drive the front and rear axles, the Mixim is a four-wheel-drive car with a theoretical top speed of 112mph and a potential maximum range of 156 miles.


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