Industrialized Cyclist Notepad


No Bailout for Better Place

I wrote a little about this company’s scheme for swappable batteries and recharging stations in The Cyclist’s Manifesto, the book I wanted to call 1000 M.P.G. Noted the similarity of their scheme to what was working in NYC in the 1890s with Pope’s electric hansom cabs.

Better Place was situating itself to capitalize on the eventual demise of gas guzzling auto companies. But when certain key gas guzzling car companies tried to go paws-up, Dr. Obama and Co. stepped in and — Clear! — hit ’em with the paddles. Priorities.

FORTUNE — Electric car company Better Place is planning to file for bankruptcy within the next several days, Fortune has learned.

The move will come seven months after the ouster of charismatic founder Shai Agassi, and five months after his successor — Evan Thornley, CEO of Better Place Australia — also departed.

via Exclusive: Better Place to file for bankruptcy – The Term Sheet: Fortune's deals blogTerm Sheet.

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