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Abramowitz fails to buy electric car firm

Israeli green entrepreneur Yosef Abramowitz failed in his bid to buy the bankrupt electric car company Better Place.

Abramowitz’s company, Green EV Operation, could not make a monthly payment of $1 million on Aug. 25 to Better Place’s liquidator.

As a result, the Lod District Court approved the sale of Better Place to Tzachi Merkur, CEO of Success Parking, an Israeli parking garage company, according to the Marker, Haaretz’s business publication. Merkur will pay approximately $3 million for Better Place.

Last month Abramowitz, in partnership with the Association for the Advancement of Electric Transport in Israel, won a bid to buy Better Place’s Israeli infrastructure and intellectual property for about $11 million.
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