Agassi Sees Better Place IPO Within Two Years

Better Place founder also sees as many as 10,000 electric cars deployed in Israel and Denmark in 2012.

Published: 27-Jan-2012

Better Place LLC, a U.S. startup developing charging stations for electric vehicles that started putting cars on the road this week, expects to go public in the next two years, Chief Executive Officer Shai Agassi said.

“We’re probably not going to go for another private round between now and the initial public offering,” Agassi, 43, who founded the business, said yesterday at Better Place’s test track and showroom north of Tel Aviv. “We have enough capital to go all the way until then.”

Better Place, based in Palo Alto, California, has raised $750 million since it was founded four years ago and is in partnership with Renault SA (RNO) to install electric-car charging systems in Israel, Denmark and Australia. Cars are expected to start using the company network in Denmark within weeks and Australia later this year, Agassi said.

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RELATED NEWS ITEMS

Renault Fluence ZE electric car with swappable batteries  to be part of service program.

Service contracts, which include Renault Fluence Z.E., will range from $280 to $560 a month depending on the miles driven.

Better Place charging station will automatically swap the car's battery.

About 10,000 people signed an “interested” list for Renault-built Fluence ZE electric cars in Israel.

Renault Fluence Z.E. electric car.

Renault Fluence Z.E. will sell in Israel for equivalent of just under $35,000US with service plans starting at $309US.

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