Better Place in Israel

Better Place's and new CEO rewriting business plan under orders from Israel Corp

It's out with the old guard as Better Places new CEO, Evan Thornley, is tasked with reinventing the electric vehicle infrastructure company following poor sales, high expenses, and investors wondering when the company will turn a profit.

Last months ouster of Better Place founder Shai Agassi has been followed by other turmoil, including the ouster of Better Place Israel CEO Moshe Kaplinsky, other departures, a large layoff, and on Wednesday a threat from Better Place's major shareholder, Israel Corp, to cut off funding. Reportedly the new CEO, Evan Thornley, is hard at work with a consulting company crafting a new business plan that is to be presented before the Israel Corp board in December for approval.

Better Place was founded in 2007 with the vision of enabling widespread adoption of electric vehicles by offering a battery pack exchange service. Such a service replaces a depleted battery pack with a fully charged one within a couple minutes. This allows electric car drivers a usage model similar to gasoline cars, because the driver refuels during a short stop at a service station rather than with a long wait at a charging station.

The company's service of course requires automakers to construct electric cars compatible with the Better Place quick battery pack exchange stations. The only company to do so is Renault, with their Fluence ZE. The Better Place service has rolled out in Israel for general use, and in Amsterdam as a taxi service. In October, Better Place was the indirect recipient of a grant to launch an electric taxi service in the SF Bay Area, and has tapped Coda Automotive to provide six electric cars for the first phase.

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Comments

Like all the charging station and battery maintenance related companies these are all going to end up Blockbuster video stores. The Volt's configuration and every plug-in hybrid makes them all buggy whips.

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