Better Place, the electric car manufacturer which partnered with Renault (RNSDF.PK) five years...

|About: Renault SA (RNSDF)|By:, SA News Editor

Better Place, the electric car manufacturer which partnered with Renault (RNSDF.PK) five years ago to devise a better system for electric vehicles involving charging stations and battery swap locations, applies for an "orderly liquidation" in an Israeli court after the business failed to catch on. The company, valued at more than $2.25B two years ago, admitted that "after a year's commercial operation it was clear that…the public take up would not be sufficient." Shareholders include GE, Morgan Stanley, and HSBC.