Battery-swap company Better Place closing shop

  • 28-May-2013 09:06 EDT

Better Place's battery-swap stations worked on an automated basis and could replace a battery in just a few minutes.

Better Place, the Israel-based company that had pinned its hopes on building stations where the traction batteries of electrified vehicles could be quickly removed and replaced with fully charged ones, has made a legal motion to dissolve. In a May 26 press release, it cited as a reason for its motion a failure to secure additional funding for continued operation: "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."

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