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Wednesday, December 11, 2013 at 8:53PM
Ran Eloya, founder and CEO of Gnrgy Ltd., said his company bought the remaining assets of Better Place for less than $450,000, a fraction of its $2 billion valuation less than two years ago.
Better Place filed for liquidation in May, six years after promising to revolutionize the auto industry by reducing the world’s oil dependency. The company burned through hundreds of millions of dollars building a network of chargers and battery-swapping stations, but experienced poor sales.
For the entire story on BloombergBusinessWeek
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