Renault demonstrated Israeli electric car technology

Israeli consumers will be able to purchase an electric car by the end of 2010 for around the price of a regular car
 
A delegation of engineers and product development personnel from French carmaker Renault SA arrived in Israel last week to examine Israeli electric car technology for the Renault Nissan Alliance electric car program. Israelis hope the new technology will revolutionize transportation in the country and serve as a pilot for the rest of the world.
 
The project is a joint venture between automotive giant Renault-Nissan, which is building the car, and Palo Alto, Calif.-based Project Better Place, which came up with the business model and is supposed to operate a recharging grid to be built across Israel beginning in 2009.
 
The initiative is being led by Shai Agassi, an Israeli-American entrepreneur who raised $200 million to get the project off the ground. He also got Israel's government to endorse it earlier this year and promise tax incentives to promote the new vehicles when they go on the market.
 
The Office of the Chief Scientist will finance up to half of the authorized budgets for suitable joint projects with the Renault Nissan Alliance. Renault will provide matching funds, including technology advice, applied applications testing, and use of thecompany's laboratories.
 
If plans remain on schedule, Israeli consumers will be able to purchase an electric car by the end of 2010 for around the price of a regular car.