Project Better Place, owned by Israeli-American entrepreneur Shai Agassi, will provide lithium-ion batteries to power the cars and the infrastructure to refresh or replace them. One battery will enable the cars to travel 124 miles per charge. Project Better Place will install parking meter-like plugs on city streets and construct service stations along highways to replace the batteries. [2] Renault-Nissan will build the new cars and will offer a small number of their existing electric models, such as the “Megane” sedan, at prices roughly comparable to gasoline models.
To promote this form of environmentally efficient transportation, the Israeli government cut the tax rate on cars powered by electricity to 10 percent (from 79 percent on ordinary cars) to encourage consumers to buy the vehicles once they become available. [3] This initiative will offer consumers an inexpensive car for which they will pay a monthly fee based on expected mileage.
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