With a fresh, kid-friendly look on the official website (see above), there appears to be new life in Better Place. The Israeli electric vehicle charging and battery swap station company was approved for sale to Sunrise for almost $5 million. In May, Better Place announced bankruptcy proceedings.

Sunrise is the company run by solar pioneer "Captain Sunshine," aka Yosef Abramowitz, who was suspected of being interested in Better Place last month, and the Association for the Promotion of the Electric Car in Israel. Sunrise not only will pay " at least NIS 18 million" ($4.9 million US) for Better Place Israel's assets it will also spend NIS 25 million ($6.9 million) for Better Place Switzerland's intellectual property. Sunrise beat out another bid for Better Place from a consortium made up of Success Parking and the Car Charging Group.

Part of the deal is that Sunrise will continue to operate at least 15 of Better Place's EV charging stations in Israel, keep on most (50 of 85) employees and keep on trying to sell electric cars. Of course, that hardly seems like a negative. Why you'd want to buy Better Place just to shut everything down would be a mystery.

Since starting in 2007, Better Place lost roughly $823 million, according to Y Net News. It did sell around 950 EVs and, despite an attempt to keep going in the first part of this year, needed to lay off hundreds of employees before declaring bankruptcy.


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    • 1 Second Ago
  • 5 Comments
      Ryan
      • 5 Months Ago
      I don't want to do the right-winger's job for them, but 950 EVs at a cost of $823 million isn't very good. You could buy quite a few Tesla's and have them parked 200 miles apart and let people drive there, swap cars, and drive off. Or you could build about 1000 Tesla's and 3240 solar powered supercharging stations all across the country... Or you could buy 1 day's worth of gas for the US.
        Spec
        • 5 Months Ago
        @Ryan
        Better Place was a disaster from Day 1. You could see it from these boards alone. If they can't get the EV fans to be interested, there was never a chance they could get the general public interested.
      Marcopolo
      • 5 Months Ago
      The end of a stupid idea. Hopefully, also the end of the unrealistic 'green energy investment craze' that saw billion wasted in mad projects, backed by idealistic governments, with taxpayer money. Having said that, it's worth noting that with almost all great advances in technology, an investment bubble is created where illogical decisions based on enthusiasm and unrealistic expectations occur. In the US, although some taxpayer money was wasted, most of the DOE incentive funding was successful, and benefited the US taxpayer. Was Better Place just a scam ? Or simply a delusion ? Or maybe a combination of both? Only Yosef Abramowitz knows, and he's not telling !
      j
      • 5 Months Ago
      Hard to get anyone interested when you are spending hundreds of millions of dollars on perfecting technical solutions to problems your would be customers do not have yet. Instead of signing up customers. A transport company has to get butts in seats, and a car company has to get wheels on the road. Business realities that took a back seat, way waaay back, to finding perfectly elegant solutions to problems that may be faced years from now by BP's potential earliest adopters. Ryan, how on earth does a company spend $823 on acquiring 950 drivers, when someone else designs, engineers and manufacturers the cars? Not a good look.
      • 5 Months Ago
      Right now there is a clever alternative to the "Better Place Technology" it's called driveincharge and uses a low cost infrastructure and allows an electrical car to be charged in less than one minute. An electrical truck is up and running in less than 3 minutes.