It’s amazing what the right idea at the right time can do … Shai Agassi has come up with a way to circumvent the problem that has plagued electric cars for over a century…namely the length of time it takes to charge the batteries. His solution is to focus on a business model that makes money not from the cars, but from the electric miles. Companies such as his Better Place own the batteries and are responsible for keeping them charged etc… a business model based on that of the cellphone and airtime minutes. It’s likely that he isn’t the first person to come up with the idea, but it’s certainly the right time to deliver it.
The speed has been phenomenal…
By early summer 2008, Agassi had two countries ready to roll out the plan, a major automaker producing the cars, and $200 million in committed capital. He had launched the fifth-largest startup of all time in less than a year.
After a career spent thinking exclusively about business software, Agassi now thrills to the idea that he’s changing the world. “I get to shift multiple markets,” he says. “I get to shift economies. It’s extremely liberating. I breathe differently.”
He’s very savvy politically..he has already persuaded the Israeli government to restructure their tax system to encourage the uptake of the cars and is working on political levers in other countries and states to achieve the same effect.
He’s already inked deals with the State of Hawaii, Israel, Australia, the San Francisco Bay area, Denmark and is working with Japan.
There’s a great interview with Agassi here.
