Better Place’s Collapse a Hard Blow for Renault image

The collapse of Better Place has been a hard blow for Renault, which has helped the company develop its novel battery-switching system for EVs.

The Israeli company Better Place was founded in 2007 by entrepreneur Shai Agassi and the company developed a system which helps EV owners drive their vehicles in an innovative network of stations in Israel and change the vehicle’s battery with a new one in the same amount of time necessary to fill a gasoline tank.

The system was called ‘quick drop’ and was aimed at convincing customers that the several hours recharge is a matter of the past. Renault CEO Carlos Ghosn has made the system one of Renault’s ambitions for the 4-billion euro EV strategy. The cars which feature the Better Place technology are the Renault Fluence and the Z.E. sedans.

“Unfortunately, after a year’s commercial operation, it was clear to us that despite many satisfied customers, the wider public take up would not be sufficient and that the support from the car producers was not forthcoming,” said Better Place Chief Executive Dan Cohen in a statement.

Renault announced that the collapse of Better Place will not stop the company from exploring EV charging technologies, including the quick drop.

Source: wsj.com