ELECTRIC VEHICLE SERVICES provider Better Place Australia announced this week that it has secured $25 million in an initial round of funding.
The funding will be used in the development of BPA's planned charging network in Canberra, slated to be in operation by 2011.
Better Place Australia representatives said the funding is the first step in plans to raise $1 billion in the next five years, which will allow the company to expand its charging network around Australia.
Better Place’s investment in Canberra will include the installation of charging points in homes, offices, shopping centres and other car parks, where EV owners will be able to plug their vehicles in to be charged.
“Battery Swap Stations” will also be built, allowing rushed drivers to swap their depleted lithium-ion battery for a fully-charged one.
The $25 million in funding is expected to finance planning, engineering and trial activities in the lead-up to the first stage of Canberra's electric vehicle charging network.
“The investment marks our second successful financing in 2009, and we believe it’s indicative of growing interest in Better Place from institutions and far-sighted corporations seeking thematic investment opportunities to fight climate change,” Shai Agassi, Founder and CEO of Better Place said in a statement.
Lend Lease Ventures led the initial funding round, which included investments by ActewAGL and several private investors.
Better Place Australia and the University of Melbourne announced together in August that the two organisations would work together to develop projects aimed at accelerating Australia's adoption of electric vehicles.
A recent TMR poll showed that 44 percent of the poll's 1009 respondents would consider the purchase of an electric car if priced competitively.


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Comments
8 months ago 0 points
and secondly, getting this electricity to your car must cost you something, all I've seen are pictures of people being so happy to fill there car with electricity. What i wanna know is how much it costs to get this electricity.
8 months ago 0 points
8 months ago 0 points
8 months ago 0 points
(2) It should also be shown whether our local grids and transformers can handle the re-charging in hot summer nights when all aircons are on
(3) What is also needed is some serious modeling how many EVs there can be on the road by, say, 2020, considering the limitations under (1) and (2)
(4) The big question is: can EVs compensate for steep oil production declines in the next 10 years to be able to maintain our car culture. If not we better stop thinking about building yet more freeways.
7 months ago 0 points
7 months ago 0 points
5 days ago 0 points
7 hours ago 0 points
Clean , efficient , more powerful and much quicker than any gas guzzler. Cheaper to build and far less maintainence.
The average person does not realise that electric motors power the trains hauling coal to the power stations and they have been doing this for 50yrs. The technology is not new: electric motors have much more power than the equivalent weight of internal combustion motors and enormous torque. Zero to 100kmh in about 3 secs if you desire but I suggest that this is too quick. The electric train in Japan can exceed 400kmh and my cousin travelled on the French version at 340kmh while noting that cars travelling near 200kmh on an adjacent highway appeared to be going backwards, so don't think electric propulsion is slow and has no power.These are popular misconceptions!
Swapping batteries is the answer to the range problem and I suggest this would be quicker than filling your tank!
The Japanese have nearly got it right, but there is a simpler way of doing it and much quicker.I worked this out about 20 yrs ago. Just imagine ,no gearbox,no tailshaft,no exhaust system,no differential, all gone just motors in each wheel if you desire, some electronics and a quick change battery that you dont own or maintain as its rented just like a gas bottle. Of course city commuters could get by by charging up every second or third day on off peak power at home. Also electric cars could be easily controlled by central traffic computers so eliminating traffic jams.
Battery technology will improve all the time just as computers have so dont be negative about that!
I could probably go on but you get the picture; internal combustion has served us well but technology moves relentlessly forward and the fundemental duo of nuclear energy and magnetic propulsion is about to herald a new age . Bring it on ,it will be quiet efficient and sophisticated at last!