
Better Place is not doing as well as everyone expected, with financial losses running in the millions.
The idea seemed flawless: battery-powered cars that could run on 100% electricity and could be recharged almost instantly by swapping batteries at special charging stations. But despite all the optimistic predictions, Better Place, the Israeli company that has been trying to build the world’s first operational infratructure for electric vehicles (EV), has been facing a series of obstacles in moving ahead with its technology.
Israel Corp., which holds 32% of the company’s shares, reported that Better Place lost over 1.5 billion NIS ($433 million) since 2009, 760 million NIS ($204 million) of which was lost over the course of 2011 alone, and deployment of battery recharging and swapping stations has been delayed in both Denmark in Israel from the scheduled date this April to the summer.

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