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10/10/2008 08:08 AM
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Project Better Place Envisions Free Electric Cars
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Project Better Place, a company focusing on creating charging infrastructures is reportedly considering a service provider model, through which
electric cars would be provided free to customers who sign service
contracts.
The California-based startup
has received some $200 million from high-profile venture firms and
calculates the cost of running pure electric cars at 7 cents per mile,
compared to 35 cents per mile for gasoline-powered cars.
Founder Shea Agassi believes if new car buyers are willing to
sign contracts at the gasoline rate, car dealers could keep the
difference to pay for the vehicle--thereby completely eliminating the
up-front cost for buyers and vastly accelerating the adoption of
electric vehicles.
Project Better Place is already working to develop charging networks in Israel and Denmark, and is working with Renault and Nissan to incorporate their electric vehicles.
Read the full Reuters Report.
