Sunday, January 27, 2008

The Electric Car Acid Test [BusinessWeek]

Check the full article for more details

On Jan. 21, Agassi, Olmert, Peres, and Ghosn unveiled the novel project, under which Agassi's Silicon Valley company, Better Place, will sell electric cars and build a network of locations where drivers can charge and replace batteries. Olmert has done his part, too. Israel just boosted the sales tax on gasoline-powered cars to as much as 60% and pledged to buy up old gas cars to get them off the road.

Agassi contends that Israel is just the start. He hopes to expand his business into several other countries over the next few years, with China, France, and Britain among the potential markets. Ultimately, he believes that his company and others like it could shake two pillars of the global economy, the $1.5 trillion-a-year auto industry and the $1.5 trillion-a-year market for gasoline. "If what I'm saying is right, this would be the largest economic dislocation in the history of capitalism," says Agassi.

The Electric Car Acid Test

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