ira

Renault in talks with Shai Agassi for cooperation in electric car research
November 19, 2007: 01:44 PM EST


PARIS, Nov. 19, 2007 (Thomson Financial delivered by Newstex) -- French car maker Renault said it is studying the possibility of cooperating with Israeli investor Shai Agassi in the field of electric car research.

Renault-Nissan Chief Executive Carlos Ghosn recently said that Renault was aiming to develop electric cars by 2012.

Shai Agassi has set up a company called Project Better Place in order to build the infrastructure required to charge electric vehicles.

French weekly newsletter La Lettre de l'Expansion reported earlier Monday that Ghosn would soon sign a deal with Israel's president and prime minister to make electric cars in Israel.

Renault declined to comment on that part of the report.

Agassi said he has raised 200 mln usd from Israel Corp and from other investors including former World Bank head James Wolfensohn, Morgan Stanley (NYSE:MS) , and Canadian businessman Edgar Bronfman Sr.

josh007

What do you guy's think this will be a success or failure? And if it is a success, how much of an impact will it have on Israel, economically?

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Livni

if beurocracy + car importers dont mess with it , it can be a success. right now the govt is making lots of tax on oil, cars, gas - so if it can find a way to tax electric cars more, Im sure it can succeed

ira

An electric car can only be successful if it can compete economically with a gasoline powered car. Right now the cost of gas is very high and it makes electric cars look economical going forward.

The big problem with this picture is that Saudi Arabia has about 80 years of oil in the ground pumping at the rate they are pumping now. The minute it looks like there oil will be no longer needed will be the moment they drop the price of there oil. This has happened in the past. After all oil was selling for $10 a barrel not that many years ago.

Livni

yes its a well known trick they dropped it to cause more demand. but right now with china and india markets, the demand will always grow so they can affors to raise prices.
nobody knows exactly how much oil is left, andby how much demand is growing. most countries make false predictions in order to get high financial credit rating and investments. the truth is a lot of wells are closing down and in others they have to dig deeper to get oil. the fact is oil is running out, and the world is so addicted that there is very little "rehab centers" for finding other energy.