Better Place
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Better Place was an Israeli-American electric vehicle infrastructure company founded in 2007 by Shai Agassi, a former SAP executive. It pioneered battery swapping for passenger cars: customers bought the vehicle, typically the Renault Fluence Z.E. sedan, and leased the battery pack under a subscription model, swapping depleted batteries for fully charged ones at automated stations in about five minutes. Backed by roughly $850 million from investors including Israel Corp, HSBC, Morgan Stanley and VantagePoint Venture Partners, it built battery-swap networks in Israel and Denmark and planned operations in more than 25 countries. Fewer than 1,500 cars were ever deployed, revenues never covered operating costs, and on May 26, 2013 the company filed for liquidation in Israeli courts. Its remaining assets were sold in November 2013 for only $450,000.
02 / Better Place FAILURE REASONS
Failure factors supported by verified evidence
The company could not secure the additional financing needed to continue operating. Sales or customer adoption did not reach the level required to sustain the business. Revenue and operating costs did not support sustainable continued operations.
The company could not secure the additional financing needed to continue operating.
Sales or customer adoption did not reach the level required to sustain the business.
Revenue and operating costs did not support sustainable continued operations.
03 / EVENT HISTORY
Events in the structured record
- Bankruptcy
The company entered bankruptcy proceedings.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Battery-swap EV infrastructure pioneer founded by Shai Agassi in 2007
- 02
Roughly $850M raised; swap networks built in Israel and Denmark
- 03
Fewer than 1,500 cars deployed; revenue never covered operating costs
- 04
Bankruptcy filed May 26, 2013; remaining assets sold for $450,000 in November 2013