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Electric car trailblazer Better Place to file for bankruptcy within days | The Times of Israel

Israeli company runs out of steam due to low demand, having burned through more than $800 million but sold barely 2,000 vehicles

By YIFA YAAKOV and DAVID SHAMAH May 24, 2013, 11:41 pm 4

A “Better Place” electric car outside the company’s sales center in Tel Aviv (photo credit: AP/Ariel Schalit)
Israeli electric car firm Better Place, which hoped to revolutionize driving habits in Israel and worldwide, will file for bankruptcy in the coming week.

The trailblazing firm sought to accelerate a world motoring shift away from gas-guzzling cars to electric, battery-powered vehicles. But “the company was not well-served by having things it thought would happen over a decade happen within a year,” a source familiar with the company’s financial woes told Fortune on Friday.



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