Livni

hope its true but looks unrealistic

josh007

It's also unrealistic for a startup to raise $200 million dollars in it's first round, so who knows.

__________________
FOOL ME ONCE SHAME ON YOU, FOOL ME TWICE SHAME ON ME.

ira

Renault CEO to arrive for electric car project dedication
The Renault Nissan Alliance is expected to participate in the technical development of the electric car.
Dubi Ben-Gedalyahu and Lilach Weissman 10 Jan 08 17:55
Sources inform ''Globes'' that Renault president and CEO Carlos Ghosn is expected to come to Israel to attend the dedication ceremony for the Project Better Place electric car venture initiated by Shay Agassi and Israel Corp. (TASE: ILCO). The ceremony is scheduled for January 21 at the President's Residence in Jerusalem. Minister of Finance Ronnie Bar-On and business leaders are expected to attend, and possibly Prime Minister Ehud Olmert as well.
The Renault Nissan Alliance of Renault SA (Euronext:RNO) and Nissan Motor Co. Ltd. (TSE:7201) is expected to participate in the technical development of the electric car, at an estimated investment of $150-300 million. The electric car will not be manufactured in Israel, however.


The Green Tax Committee yesterday recommended that the purchase tax on zero-emission cars - mainly electric cars - should be only 10%, compared with the 78% tax on regular cars. Zero-emission cars will be eligible for a NIS 400 tax break on the value use of company cars. The government also promised not to cut the purchase tax on gasoline and diesel cars below 60%, which will preserve a minimal margin on tax brackets.

The benefit, if the government approves it, will be valid through the end of 2014, on the assumption that this is enough protection for an emerging industry. The Green Tax Committee nevertheless recommended that if the market share for electric cars exceeds 20%, a revised benefits package should be submitted to the government to reflect the changed circumstances.

The Green Tax Committee also recommends taxing the electricity used to recharge the batteries of electric cars so that the tax rate per kilometer of travel will equal the excise on gasoline and diesel. The cabinet is expected to approve the recommendations at next Sunday's meeting.

Published by Globes [online], Israel business news - www.globes-online.com - on January 10, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008

Livni

There was a big article interview with him on YA newspaper this weekend, he says by 2009 the first vehicles will be tested and marketed, for much lower than gas cars and maintanance costs without a fuel engine will be half. It all comes down to taxing - how much will the electricity cost and what benefits or tax reduction insentives they will give to changing cars from fuel to electric. Any tax plan reached he was assured will be continued until 2017 at least. The big money will be to wire the entire country (like with cable tv) and to get the car battery exchange depots running.
Lets hope they tax it so that its hugely profitable to move to electric. The electricity itself is expected to cost like refuling the car 3-4 times with gas (1000 nis a year) while today someone who refuels twice a month (24 times) pays 6000 nis a year and over. the entire electricity demand will only add 5% to the current demand. some electric plug-stations could also be powered with solar panels, such as carpark roofs.

It looks like the first to move to electric will be big companies with leasing fleets, because they have carparks that can easily be wired and recharged during working hours. Basically the plan is that users wont necessarily have to buy and own the cars, instead they can buy "driving packages" from the electric car companies, and pay a monthly fee for car use and electricity together.

ira

Israeli-Russian-German venture in hydrogen car breakthrough
C.En's 50-kg, 60-liter hydrogen fuel tank provides a range of 600 km.
Globes' correspondent 28 Jan 08 14:52
An Israeli-Russian-German venture, C.En, headed by Prof. Dan Eliezer, has recently completed a design and test program that aims at producing a safe and lightweight hydrogen tank for use in cars.
One of the biggest technological and economic challenges delaying the development of cars operated by hydrogen is the problem of safe and lightweight storage of hydrogen in the vehicle. C.En conducted more than 120 experiments over three years, which demonstrate that it is viable to store twice the amount of hydrogen than current solutions, providing a 600-km range with a 60-liter tank that weighs 50 kg, including the hydrogen.


C.En's hydrogen tank is undergoing another series of tests and experiments at the German Federal Institute for Materials Research and Testing (BAM), after which it will be presented to the US authorities and international carmakers. C.En has written five patents on the basis of the first set of tests.

C.En employs scientists from Israel, Germany, Russia, Japan, and South Korea. Moshe Stern leads the investors group, which includes Shlomo Nehama and Dr. Ya'acov Sheinin, as well as Korean, Japanese, and Russian investors. C.En has raised $10 million to date; the most recent financing round was held at a company value of $50 million.

Stern predicts that if the results the tests scheduled for the next six months at a European laboratory that specializes in hydrogen meet expectations, they will demonstrate that an alternative energy source exists for cars, thereby significantly reducing the world's reliance on Arab oil.

Published by Globes [online], Israel business news - Globes [online] – business and technology news from Israel - on January 28, 2008

© Copyright of Globes Publisher Itonut (1983) Ltd. 2008