As Purim approaches, thousands of Israeli children and families grapple with poverty
The electric car company Better Place, which had pledged to erect electric car charging stations throughout Israel, filed for bankruptcy in an Israeli court on Sunday.
The company, based in Palo Alto, Calif., fired about half of its staff in October 2012.
Better Place provides charge spots and battery-switch stations for the Renault Fluence ZE, an electric car that went on sale last year in Israel. Fewer than 1,000 of the cars have been sold in Israel.
Better Place had raised more than $850 million in investments since its founding in 2007, but it lost $812 million in 2012 alone and would have needed at least another four years and investment of some $500 million to reach a breakeven point, Globes business daily reported.
“We stand by the original vision as formulated by Shai Agassi of creating a green alternative that would lessen our dependence on highly polluting transportation technologies,” the company’s management said in a statement issued Sunday. “The vision is still valid and important and we remain hopeful that eventually the vision will be realized for the benefit of a better world. However, Better Place will not be able to take part in the realization of this vision.”
Agassi, the Israeli-American founder of Better Place, was ousted by its board last year. Agassi then resigned from the company’s board of directors.
About the Author:
If you don't see your comment after publishing it, refresh the page.
Comments are closed.
Rav Ovadia Yosef’s hat and robes made an appearance at a Shas political rally on Tuesday.
Don’t listen just to Bibi, President Obama, but to your own experts, right there in Washington DC.
She was brought to tears and “saddened by the insult to the intelligence of the United States.”
Pres. Barack Obama says Israel’s prime minister offered “no viable alternative” to the current deal with Iran. Here’s how it lines up.
Dozens of Democrats gathered to spew a stream of venom before the cameras Tuesday at Israel’s prime minister after his speech to Congress.
Eli Beer stunned the 16,500 AIPAC conference participants by arriving on stage with lights and sirens blaring on an ambucycle, a specially equipped motorcycle ambulance designed by United Hatzalah to speed up emergency response times.
Israel’s PM Netanyahu was interrupted 40 times with standing ovations in his 40 minute historic speech to the US Congress on Tuesday. Transcript here.
The transcript of PM Netanyahu’s speech is available here. The speech begins at 6pm Israel Time / 11AM NY Time.
Former US Secy of State Hillary Clinton is found to have exclusively used private email while at State Dept.
Bottles of wine accompany the Pesach storytelling – each glass of wine represents the four expressions used by G-d in describing the redemption of the Jewish people from Egypt.
“Today the Jewish people face another attempt by yet another Persian potentate…” to wipe out Israel, PM Netanyahu told Congress.
The Prime Minister showed AIPAC a map of Iranian-backed Hezbollah attacks in five different continents.
If Iran is serious, Netanyahu can skip his speech and tell the Air Force to rev up its engines.
Names and contact information of House Democrats who have confirmed attendance at Bibi’s speech.
More than 20 cars and buildings in a Jewish community in north London were vandalized with swastikas. The Nazi symbol was drawn on approximately 27 cars in the Osbaldeston Road area of Stoke Newington on Sunday night, The Daily Mail reported. An unnamed 32-year-old man was arrested in connection with the vandalism Tuesday. The neighborhood […]
New York State Assemblyman Dov Hikind called on the Jewish community to attend the funeral of an assassinated New York police officer. “The brave men and women of the NYPD risk their lives every day to protect us. We value them and stand with them,” Hikind, a Democrat who represents Brooklyn, said in a statement […]
“Move Jew” scrawled on a Philadelphia home and slurs written on a synagogue and 10 garages in Chicago.
Cuba has “the largest pool of untapped baseball talent in the world, and Major League Baseball may tap and leave Cuba dry.
Argentina’s president Christina Fernandez has accepted an official Jewish godson for the first time in the country’s history to help counter legend of death to a seventh son. She described in seven tweets her meeting with her new godson, Yair Tawil, a member of a Chabad-Lubavitch family. He was adopted as a godson under a […]
Printed from: http://www.jewishpress.com/news/breaking-news/better-place-electric-car-goes-belly-up/2013/05/26/
Scan this QR code to visit this page online: