Did You Know? Electric Car Company Gets Cash Infusion

Project Better Place, the ambitious electric car venture founded by Israeli-American entrepreneur Shai Agassi, has received a $350 million investment from a consortium led by HSBC. The project’s backers say the electric car will drastically reduce oil dependence, cut carbon emissions and blaze a trail for more environmentally friendly transport. Israel’s government endorsed the project two years ago, and the country is slated to be the first to have electric cars on its highways in large numbers, starting next year. Denmark has also adopted the Better Place model, and plans to have thousands of cars running on electricity generated by wind turbines by 2011. You can read more in this AP story.