With 700 million cars driving on the world’s roads, releasing an estimated 2.8 billion tons of CO2 pollution annually, it doesn’t take a genius to understand that the world is rapidly heading for an environmental disaster. What it does take, however, is someone daring enough to tackle that challenge – one of the biggest facing mankind today – head on.
Israeli entrepreneur Shai Agassi is that man. The 39-year-old former SAP executive has come up with an ambitious plan to shake up the auto industry by encouraging consumers worldwide to give up their heavily polluting fossil fuel cars and purchase electric cars instead.
Agassi’s new company, Project Better Place, was launched on Monday in New York. The company, which raised $200 million – making it one of the largest initial fundings for a start-up in history – plans to establish a widespread grid of electric charging spots at current parking locations, as well as battery exchange stations to provide consumers with the energy to keep their electric cars charged and on the roads without the need to wait for electricity at any point. CONTINUE