Israel Inks Deal with Project Better Place for Electric Vehicles and Infrastructure

Jan 21, Project Better Place. Sounds idealistic, doesn't it? For a company determined to reduce greenhouse gases by eliminating automotive emissions, it may just be the perfect name. Project Better Place, in a joint venture with Renault-Nissan announced they have signed an agreement to make Israel the first country in their pilot program to provide electric cars and a charging infrastructure.

Project Better Place was formed in October 2007 to solve the Greenhouse Gas problems. The idea is a simple one, produce standard consumer automobiles as 100% electric vehicles and provide a charging infrastructure. You buy the car and they lease/rent you the batteries or electricity. In a press release it was described this way, "Consumers will buy and own their car and subscribe to energy, including the use of the battery, on a basis of kilometers driven. This model is similar to the way mobile phones are sold, with an initial purchase and a monthly subscription for the mobility service."

The company promises over 100 mile zero emission driving range between charges, "while at the same time offering driving performances similar to a 1.6 liter gasoline engine." Project Better Place has already converted a stock Renault-Nissan Megane to utilize it electric drive and Lithium-Ion battery pack for demonstration of the projects viability.

Shai Agassi,the founder and CEO of Project Better Place was quoted in the New York Times as saying "With $100 a barrel oil, we've crossed a historic threshold where electricity and batteries provide a cheaper alternative for consumers," Mr. Agassi said. "You buy a car to go an infinite distance, and we need to create the same feeling for an electric car - that you can fill it up when you stop or sleep and go an infinite distance."