Saturday, March 08, 2008

Israel and the Electric Car

While everyone in the Middle East world is still fixed on oil, and maybe natural gas, as the sources of energy, everyone in the US is talking about alternative sources for energy and clean technology. The exception of course is Israel.

In an economist article about how tech entrepreneurs are switching to green entrepreneurs, they highlighted Shai Agassi, 39, who was set to be SAP's next CEO but choose to start his own venture BetterPlace that focuses on Electric Cars.

The interesting thing, is that Shai has joined a partnership with Renault and his Israeli Government to bring electric cars to Israel aiming at a 100% gasoline free Israel. Shai has managed to secure $100 million of funding from Israel Corp. and the first car is expected to hit the streets by 2009 aiming at mass production by 2010.

It's interesting how both the Arabs and Israeli choose to react differently. The Arabs, finally knowing that oil will not be there for every for them to bank on it, started thinking of creating other industries like tourism, finance, and freight. Israel on the other decided to go after technological lead of the emerging forms of energy whether electric, wind, or solar.

No comments: