Project Better Place. Mass deployment of electric cars

Project Better Place has agreements with the governments of Israel and Denmark to begin mass deployment of electric cars. Their business plan is innovative. Start with taxis and delivery vehicles in cities, then expand from there. Create charging spots and battery swap stations. Yes, battery swaps. If the battery is low, just quickly swap it out for another one.

Plus, they want to use a cell phone model, which is to virtually give away the phones and generate income from a monthly flat fee. PBP plans to, are you ready, give away the car and charge $550 a month for 18,000 miles a year. This includes the car, battery leasing, and the cost of electricity. And you don’t have to pay for gas.

Deutsche Bank crunched the numbers and said their plan could work even in the US, and at a lower cost per mile than with gas-powered cars. Hey, gas alone for 1500 miles a month with a 20 mpg car is $300 a month when gas is $4 a gallon.

Electric vehicles will be a major part of the transportation future. This PBP venture could help us get there.

TriplePundit has more.