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Updated Monday, February 8, 2010 10:07 am TWN, AP

Israel on schedule to unveil revolutionary electric car grid

RAMAT HASHARON, Israel -- The developers of a new electric vehicle say Israel is on schedule to inaugurate a revolutionary electric car grid by next year, with dozens of recharge stations and thousands of cars on the road.

The California-based company Better Place hopes Israel's model will lead a shift toward electric transportation worldwide. The company says between 70 to 100 recharge stations will open by 2011.

It is launching a similar project in Denmark.

Last month the company raised US$350 million from an HSBC-led investor consortium, one of the largest clean-tech investments in history.

The company's Israeli-American chief executive, Shai Agassi, told a press conference Sunday that Israel was trying to solve the problem of oil dependency “for the entire world.”

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	An electric car is connected into power supply at a recharge station during a demonstration of the California-based company Better Place in Tel Aviv, Israel, yesterday. The developers of a new electric vehicle say Israel is on schedule to inaugurate a revolutionary electric car grid by next year, with dozens of recharge stations and thousands of cars on the road. (AP) Enlarge Photo


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