Better Place Shutting Down US and Australian Operations, Focusing on Denmark and Israel
Following the decision by Better Place to focus on delivering on its strategy in Denmark and Israel, where the complete infrastructure is in place and commercial operations are fully underway, consultations are underway with a view to securing an orderly wind-down of its non-core activities in North America and limiting any further investment in Australia beyond its current commitments.
The financially-troubled company's priority in those markets is to ensure that existing engagements to key partners, customers, and suppliers will be honored and Better Place retains the option to resume roll-out in these markets when circumstances permit. Better Place is committed to finding alternative arrangements for existing customers in these markets, allowing them to continue the joy of anxiety free, electric car driving.
Better Place continues to make progress in its two core markets, Denmark and Israel, where sales of new electric cars are gathering momentum. Better Place is working with its existing and potential partners on a number of marketing and other initiatives which should further accelerate recruitment of new members.
Dan Cohen, CEO of Better Place, said today: "We have demonstrated that Better Place works as a concept. We need to prove to our customers, suppliers and investors that we have a sustainable, scalable model. To do so we are now focusing on realizing the full potential of what we have built, and that means concentrating our resources and energy in the near term, on Denmark and Israel, where we have customers on the road enjoying our switching and charging networks. At the same time, we had to make some difficult decisions on actions to be taken elsewhere in the world. We believe in the long term potential of both Australia and North America and are enormously encouraged by the enthusiastic response we get from all our customers. Therefore we will keep exploring solutions which will enable us to keep our long term options with regard to those markets open."