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4:36 am - Tuesday November 12, 2019

Israel to Support New Electric Car Initative

| Economics | Rating: 4.5
by Numan

The Israeli government has announced its support of an electric car initiative named “Project Better Place”. The initiative is headed by Shay Agasi, a former senior VP in the software giant SAP. The initiative has already raised approximately 200 million dollars from strategic investors.

The innovative strategy adopted by the company is to create a business model very much the same as the one used by cellular companies. The company will deploy a vast network of charging stations across countries which will enable it to sell cars cheaply with binding, long term, recharging contracts.

This strategy will be complemented by its implementation in small, island like countries such as: Japan, Denmark, Hong Kong and Israel.

In my opinion this will be a very interesting initiative, well worth observing. The potential benefits of this initiative are obvious to everyone – reducing green house gas emissions and, of course, reducing global dependency on fossil fuels and the countries that produce them.

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