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Israel Corp to Invest $100M in Electric Car Venture Led by Agassi
29 August 2007
Globes. Israel Corp., one of Israel’s major holding companies, will invest $100m in an electric car venture led by Shai Agassi, formerly the president of SAP. (Earlier post.) Other partners will invest an additional $100 million, bringing the total initial investment to $200 million.
Israel Corp would own 33% of the rights in the venture, the company said in a statement.
Agassi discussed the idea at the Word Economic Forum meeting in Davos in January along with Shimon Peres (then Israel vice premier, now president).
In May, reports surfaced that executives from Renault and Toyota had been speaking to officials from Israel and Jordan in an attempt to launch the joint electric car venture with a factory located near the border between Israel and Jordan, in an area called Peace Valley. (Earlier post.)
After quitting SAP earlier this year, Agassi claimed he wishes to concentrate on “green” issues. According to Agassi, Israel should attempt to be independent of oil within 10 years.
August 29, 2007 in Brief | Permalink | Comments (6) | TrackBack (0)
Comments
Posted by: marcus | August 29, 2007 at 02:03 PM
*But why ever would Israel want to be free of oil?*
I crack myself up.
They have more reasons than anybody to become independent of oil:
They don't have any of their own.
Their neighbors that do aren't very friendly.
They want to improve their balance of trade.
They really want to create high tech export businesses.
They have pretty good climate for solar and some energy crops.
Posted by: HealthyBreeze | August 29, 2007 at 03:59 PM
Will this electric car run on Saturdays?
Posted by: DS | August 29, 2007 at 05:20 PM
Will this electric car run on Saturdays?
Ba-dum-bum!
Posted by: jack | August 29, 2007 at 08:19 PM
why dont they just licence the Mes -Dea system from switzerland and
start building electric Pandas , should save them about two years R&D
Posted by: andrichrose | August 30, 2007 at 06:37 AM
This is a facinating development in the realm of Green transportation. Israel's combination of small size, strong national discipline, insecure oil supply, dedication to technological innovation and sophisticated national infrastructure for everything from water to solar power may be just the right mix to make this project a success.
Leon Wasser MBA, P.Eng.
President, Green Market Canada
The Canadian Green Building Industry Portal
www.Green-Market.ca
Posted by: Leon Wasser MBA, P.Eng. | January 24, 2008 at 10:11 PM
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Sounds like Agassi has the peak oil jitters.....