Mega-Hyped Better Place Electric Car Venture Ends in Dissolution

Israel’s “start-up nation” image of success in hi-tech fields suffered a rare blow with word that Better Place, the mega-hyped electric car venture, is dissolving in bankruptcy.  When launched by Shai Agassi in 2007, the operation was seen as the future arriving today and quickly became the focus of international attention – both technology-wise and as a business story. But on Sunday, the company’s directors announced it has filed for liquidation after accumulating more than $800 million in debts. “Hundreds” of jobs are said to be lost, and those who purchased the vehicles do not yet know whether arrangements will be made to honor contracts for replacing batteries.