The Bankruptcy Of Better Place. Too Soon?

By Chandrashekar (Chandra) Tamirisa, (On Twitter) @c_tamirisa

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““This is a very sad day for all of us. We stand by the original vision as formulated by Shai Agassi of creating a green alternative that would lessen our dependence on highly polluting transportation technologies. While he was able with partners and investors to overcome multiple challenges to demonstrate that it was possible to deliver a technological solution that would fulfil that vision. Unfortunately, the path to realizing that vision was difficult, complex and littered with obstacles, not all of which we were able to overcome. The technical challenges we overcame successfully, but the other obstacles we were not able to overcome, despite the massive effort and resources that were deployed to that end.”

The most important thing of all was that the intention was the right one. The purpose and concept of the business was to deliver a positive change in the world in which we live. We know that there is no certainty in any venture. It requires daring, courage, determination and resources in order to turn a venture into a sustainable industry .

The vision is still valid and important and we remain hopeful that eventually the vision will be realized for the benefit of a better world. However, Better Place will not be able to take part in the realization of this vision.”
Better Place’s Board of Directors

Tesla Motors is considering battery swapping stations along with its supercharging stations. A car maker appears to be bequeathing the legacy of Shai Agassi who wanted to save the world and make it a better place by separating the owner of the battery from the owner of the electric car.

At once an electric car becomes both a utility, because car owners pay for the amount they drive, and affordable, because they do not own the most expensive component of the car – its battery which is owned by Better Place. And when battery swapping is as easy as refilling the gas tank, electric car drivers don’t have to put up with long charging times (even Tesla’s supercharging takes 30 minutes) and range limitations.

Then why did Better Place have to go bankrupt? Short attention span of its investors and no other reason just as California and United States, parts of Europe, Australia and China are beginning to catch on to the idea and the vision.

In the end game, Tesla, which makes its own cars, will be the winner inheriting Agassi’s vision.


About Chandrashekar (Chandra) Tamirisa
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