Tags: automobiles, Better Place, Cars, Electric Cars, Nissan, Renault

Renault-Nissan could invest USD 1 billion on electric car project

California-based Project Better Place has said that their partner Renault-Nissan could invest as much as USD 1 billion dollar on their planned electric car project.

Renault and Nissan have a deal signed with Better Place to develop electric cars for mass production.

The group’s aim is to develop cars powered by alternative energy sources.

Better Place is planning to establish their first electric grids in Israel and Denmark and it should start taking place within 2 years time.

Moshe Kaplinsky, CEO of Better Place said in a statement: “We are not operating in a climate of indifference. The Israeli public is interested in what we are doing. We need to stop our dependence on oil.”