The death of Better Place; electric car company to dissolve

By
May 26, 2013 10:15

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later Don't show it again

The Better Place electric car company, once the very symbol of Israeli green innovation, filed for bankruptcy on Sunday asking the Lod District Court to dissolve the company.

“Despite significant efforts over that time frame, revenues are still insufficient to cover operating costs, and in the light of the continued negative cash flow position, the Board has decided that it has no option but to seek to make this application to the Courts for an orderly liquidation of the company,” the company announced.

“This is a difficult day for all of us,” said Better Place CEO Dan Cohen. Despite its innovative vision and accomplishments, he said, the company was not financially viable. “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.”

Related Content

Breaking news
August 16, 2018
Woman killed in hit and run near Havat Gilad outpost

By JPOST.COM STAFF