The Failure and Bankruptcy of Better Place


The Israeli company by the name of Better Place manufactured electric cars and had a stock of over 100,000 such vehicles. However, only 2500 were sold and the consumers seemed to show apathy...
    


Better Place founder Shai Agassi steps down from CEO post

Better Place founder Shai Agassi steps down from CEO post

Shai Agassi has guided Better Place's vision of swap-and-go battery stations for electric cars since it was founded five years ago, but now he's stepped down as the firm's CEO. Evan Thornley, who helmed the organization's Australian efforts, has taken up the mantle of global chief executive officer, while Agassi will continue his role as a board member. As the Wall Street Journal notes, the changing of the guard comes at a time when the company has been spending cash faster than it's generating revenue thanks to the construction of battery swap stations. Idan Ofer, Chairman of the Better Place Board of Directors sees this as "a natural point in the company's evolution to realign for its second chapter and for the challenges and opportunities ahead." Something tells us they wouldn't mind if future chapters are filled with more swappable batteries than Superchargers.

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Better Place founder Shai Agassi steps down from CEO post originally appeared on Engadget on Wed, 03 Oct 2012 23:33:00 EDT. Please see our terms for use of feeds.

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