Israel electric companies go bankrupt

International Trade ,Enthusiasm for electric cars is growing, the electric car companies tesla profit driven more new fans of investment in the capital market for electric cars. In fact, however, in recent years, the collapse of the electric car production companies. After U.S. car makers fisker, Israel electric car manufacturers Better Place will submit to the court for bankruptcy.

According to foreign media reports, shai agassi was founded by Israeli entrepreneurs, the goal is to build a large system of electric vehicle charging station, can make the electric car stops automatically after finish the old and new battery replacement work, thus saving a lot of time and effort, the charging system was once considered can sweep away all obstacles facing electric cars popular. Israeli President shimon peres often Better Place praise in public, said the company an important step for the Israeli national energy independence, Better Place's electric vehicle program and therefore has attracted worldwide attention.

It is understood that Better Place around raised about $850 million in financing, market value had reached $2.25 billion, investors including Israel group, well-known companies such as general motors, HSBC holdings, and several us venture capital institutions.

There is, however, market participants as early as at the beginning of the company questioned the feasibility of Better Place development pattern, after all this model need to invest a lot of upfront costs to build infrastructure, nor supported by car manufacturers. Earlier, Better Place choice in smaller countries such as Israel, Denmark to pilot, but because of the funds required for the upfront costs too much, the development of the electric car industry has not kept pace, leading to its electric vehicle charging station service. Data show that currently operating within the territory of Israel Better Place electric car has less than 1000 units.

In addition, the traditional big carmakers and electric car maker tesla, frequently in the field of electric vehicles is a Better Place to the development of a certain pressure.