Better Place Essay Example | Topics and Well Written Essays - 2000 words

Better Place - Essay Example Based on its perception that it could add value to utilities, Better Place was working closely with utilities to develop long term investment plans in renewable and clean energy. Israel, for example, had set a goal to have 10 percent of its electricity sourced from solar power and renewable energy by 2020. Israel Electric Corporation established a committee led by the senior vice president of engineering projects, Yakov Hain, to facilitate ongoing conversations between IEC and Better Place. Hawaii Electric Company announced a non-exclusive agreement with Better Place to invest in renewable energy and establish a recharging network connected to the grid, yet the utility noted its open-mindedness to engaging with similar companies. In Toronto, Canada, Better Place held talks with Bullfrog Power, an electricity provider that provided 100 percent renewable and clean energy sources. Spain and Portugal were also prospective locations as Better Place projected a demand for 50,000 plug-in el ectric cars in the region by 2011. As of early 2010, the company had begun establishing partnerships and carrying out market research to assess the feasibility of entry into regions with fewer boundaries and more factors inhibiting the transition to Electronic vehicles. Industry Analysis and Scenarios Better Place put up its first exhibition centre in Israel, February 2010. It was constructed in the interior of industrial oil storage tanks, which had one and a half kilometer test tracks for the available electric cars. The trade fair centers provided peculiar podiums through which the institution’s ambitious strategies of the industry would be presented, thus bringing to a halt, the domination in the automobile manufacturing industries. The most remarkable and an up to date highlight in the industry’s proofs is the invention of a bazaar, all the way through which it had entered into partnerships with Israel’s nationalized electric venture resources’ firms , services, car manufacturers, battery companies, corporate consumers and the Israeli government to make steady the electric automobiles’ networks nationwide (Better Place, 2010). Better Place organization also made pronouncements beforehand to initiate partnership with Denmark, the United States, and Canada, Australia, and Japan administrations and make proficient engagements in discussions with twenty five other different governments all over the world. In 2007, Better Place, as an organization make a realization of an enterprise-investment-endowments of approximately two hundred million US Dollars in its principal encompassing of businesses, and three hundred and fifty in 2010. These achievements were based on 1.25 billion dollars valuations and made it the second largest get underway in history. As already in the earlier statement, this organization’s mission was thus focused on drastically reducing and eventually eliminating the custom and sole dependency of autom obile industries on oil (Global Progress, 2010). As a mean of forging ahead, Better Place envisaged that its shoppers would be presented with three tiers of services’ fixed monthly payments, which include: plans–all–you–can-drive, and pay–as–you-go. Within this aspect, Better Place had think about automobile drivers being in a position to in most instances prefer service plans with an ERGO in which electricity is virtually put up for sale in miles as opposed to in kilowatt hours. At this rate, it is determined that ERGOs would be in the best position to effectively