Better Place and Bay Area Leaders Announce $1 Billion Electric Car Network for Region
The group defined a vision for encouraging investment in green infrastructure as a means for boosting the state’s competitive advantage while reducing its dependence on oil for transportation and reducing greenhouse gas emissions. The group believes that the move to a sustainable mobility model of electric vehicles fueled by renewable energy, beginning in the Bay area, will serve as an economic and environmental stimulus blueprint for the entire country, particularly the nation’s lagging automotive sector.
In conjunction with the news, Better Place announced that it would enter the US market with California as its first state, beginning in the Bay Area. Better Place will work a similar infrastructure investment model as it has in Israel, Denmark and Australia. Network planning and permitting is expected to begin in January 2009 with infrastructure deployment beginning in 2010.
Mass market availability of electric cars is targeted for 2012, and Better Place estimates the network investment in the Bay Area will total $1 billion when the system is fully deployed. The Better Place model is an open network model built on industry standards, allowing for fixed battery and battery exchange electric vehicles to operate on the network.
Source: Clean Edge News