Better Place
MobilityIsraelClosed 2013
Total Raised
$850M
Peak Valuation
$2.25B
Employees
950
Year Collapsed
2013
Business model
Battery-swap infrastructure network for electric vehicles, sold with Renault-built cars.
In brief
Built an ambitious network of battery-swap stations across Israel and Denmark so electric car owners could exchange a depleted battery for a full one in minutes. The infrastructure buildout cost far more than anticipated, only one car model (a Renault Fluence) supported the swap…
See the What Happened tab for the full account.
Key facts
- Founded
- 2007
- Closed
- 2013
- Headquarters
- Tel Aviv, Israel
- Industry
- Mobility
- Employees
- 950
- Revenue
- Undisclosed
- Founders
- Shai Agassi
Related failures
Ofo
2014–2019Mobility · China
Overexpansion$2.20BBird
2017–2023Mobility · USA
Ran out of funding$1BKarhoo
2014–2017Mobility · UK
Ran out of funding$250MBluSmart
2019–2025Mobility · India
Fraud$224MMaaS Global
2015–2024Mobility · Finland
Ran out of funding$60MChariot
2014–2019Mobility · USA
Ran out of funding$14.6M
Often compared with: Tesla, NIO (battery swap), ChargePoint.