Almost 18 months have passed since Shai Agassi's Better Place electric car venture collapsed, but the companies involved are still busy with the remnants of the failed project. Sources inform "Globes" that Carasso Motors Ltd. (TASE: CRSO), importers of Renault and Nissan cars, is turning hundreds of remaining Better Place cars into scrap, following Better Place's liquidation in May 2013.
The cars were stored in Ashdod Port, where they were apparently damaged by being kept there for so long, and it is therefore not economically feasible to sell them on the market. At the same time, the leasing companies and Carasso itself are trying to sell the usable cars through various bargain campaigns.
Carasso said in response, "We intend to scrap mainly Renault Fluence electric cars damaged during their prolonged storage in Ashdod Port."
Better Place, an electric car venture founded in 2007 and led by the Israel Corporation (TASE: ILCO), collapsed with a thud in May 2013, when the company filed a voluntary request for liquidation, following accelerated deterioration in its business. Company entrepreneur and CEO Shai Agassi was removed from his position several months before that.
Published by Globes [online], Israel business news - www.globes-online.com - on August 26, 2014
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