Renault mulls teamup to develop Electric Vehicles
As many car makers turn toward development of fuel-efficient vehicles, there is now word that French automaker Renault is considering constructing a manufacturing plant for electric cars in Israel.Very little information has been provided. According to Business Week, such a development would be a joint venture with entrepreneur Shai Agassi. If Renault decides to go through with the idea, both parties could be signing a deal by the first half of 2008 and the first vehicles to be up and testing in early 2009. Perhaps one reason why the automaker is focusing on Agassi to provide help is that he, along with his partner, Iden Ofer, is involved in a venture called "Better Place Project" which is building a network of recharging stations across the Middle Eastern country. Our take? If Renault goes through, we think every automaker will be keenly watching the experiment.
The media keeps talking about economic hardship or specific problems that appear to be doing a number on the...