CNBC Video: Project Better Place's EV battery "exchange station"
Shai said the process of exchanging batteries would take just 2-3 minutes. When asked if he had enough to build the infrastructure, which he compares to mobile networks, he said many of his investors are bankers. Shai also mentions in the interview that he raised $200M in just 3 months and that two key things that made Project Better Place possible was 1.) the price of oil went up a lot and 2.) there are "new generation of batteries that can outlive the car." Also, Shai says he initially pitched this as a government project but Israeli President Shimon Peres suggested he explore the idea in the private market and Shai took his advice. It wasn't the last time, as Shimon now advises the company.
We will have more on Project Better Place soon.
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