Better Place LLC has signed up four Israeli companies - Cellcom Israel Ltd. (NYSE:CEL; TASE:CEL), HOT Telecommunication Systems Ltd. (TASE: HOT), Nike Israel Ltd. and security firm G4S Ltd. (Hashmira Group) - which will order hundreds of electric cars for their fleets. The cars will be delivered this year.
Better Place said that, with the rise in the price of oil and volatility in prices, "many Israeli companies have begun to examine available alternatives and decided to begin switching part of their fleets to electric cars."
Better Place's electric car solution has been operating in Israel since January. Under the company's plan, its electric car costs the same as an equivalent gasoline car, and customers use the company's network of battery recharging replacement stations.
Better Place Israel CEO Moshe Kaplinski said, "With the rise in the price of gasoline, there has growing demand for alternatives. Better Place's solution now allows Israelis to make a change and make an economically and environmentally responsible decision. Executives of large companies are showing social and environmental responsibility by choosing and leading the transition to non-gasoline based transportation. This is a major step for Israel on its road of rehabilitation from oil."
Published by Globes [online], Israel business news - www.globes-online.com - on March 21, 2012
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