| Former SAP star Agassi to set up $1 billion electric car network in Australia |
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| by Stan Beer | |
| Thursday, 23 October 2008 | |
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Page 2 of 3 Better Place intends to use its scalable model, whichIsrael and Denmark have adopted, to build the EV network in Australia.The initiative will involve Better Place setting up its Australianheadquarters in the south eastern mainland state of Victoria.Featured Whitepaper
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“As the world’s sixth largest country (geographically), our networkbuild out in Australia will demonstrate that the Better Place modelworks in all countries, regardless of size,” said Shai Agassi, CEO andFounder of Better Place. “We are investing in Australia’s economy and adding jobs while helpingthe country take a generational leap forward toward oil independence.”Agassi added, “With our commitment to build infrastructure and theFederal Government’s $500 million Green Car Innovation Fund, there is acompelling case for automobile manufacturers to jump in and buildclean, safe, affordable electric cars for Australasia and SoutheastAsia.” Macquarie will assist in business development and help raise AUD$1 billion for the network build. David Roseman, Head of Infrastructure and Utilities Advisory –Australasia, Macquarie Capital Group said, “The Better Place businessmodel is game changing and represents an exciting opportunity forAustralian consumers, the environment, domestic automakers, therenewable energy sector, local industry and workers to move to theforefront of the energy revolution. “Electric vehicles represent a more affordable alternative to theconventional combustion powered vehicle. We believe the combination ofa competitively priced vehicle, being driven by cheaper and cleanerfuel is a compelling business case,” Roseman said. CONTINUED Page 3 |
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