Better Place winding down ops in North America and Australia, to focus on Denmark and Israel

7 February 2013

Better Place, the startup provider of electric car networks using a battery switch model, has decided to focus its efforts on Denmark and Israel, where the complete infrastructure is in place and commercial operations are underway. As a corollary, it will wind-down of its non-core activities in North America and limit any further investment in Australia beyond its current commitments.

The company said that its priority in those markets is to ensure that existing engagements to key partners, customers, and suppliers will be honored. Better Place hopes to retain the option to resume roll-out in these markets when circumstances permit.

We have demonstrated that Better Place works as a concept. We need to prove to our customers, suppliers and investors that we have a sustainable, scalable model. To do so we are now focusing on realizing the full potential of what we have built, and that means concentrating our resources and energy in the near term, on Denmark and Israel, where we have customers on the road enjoying our switching and charging networks. At the same time, we had to make some difficult decisions on actions to be taken elsewhere in the world. We believe in the long term potential of both Australia and North America and are enormously encouraged by the enthusiastic response we get from all our customers. Therefore we will keep exploring solutions which will enable us to keep our long term options with regard to those markets open.

—Dan Cohen, CEO of Better Place