Denmark's largest utility joins Agassi's electric car venture

Denmark's deputy prime minister: The government will support Project Better Place with a tax exemption on electric cars through 2012.

27 March 08 18:6, Dubi Ben-Gedalyahu

Project Better Place CEO Shai Agassi announced today in Copenhagen that he had reached agreement with Denmark's largest utility, DONG Energy, to foster and implement his electric car venture in the country. The two companies will jointly build the infrastructure for the power supply and recharging points for the cars. The electricity will be generated from renewable energy sources, such as Denmark's wind farms.

DONG Energy provides nearly half of Denmark's electricity and has an annual revenue of 41 billion kroner.

Denmark's deputy prime minister said that the government would support Project Better Place, and announced a tax exemption on electric cars through 2012, at which point it will review the subject.

Agassi is in Denmark to attend the Copenhagen Climate Council, where he was presented as a US businessman. He said that the collaboration with DONG Energy was a model for energy companies worldwide. He added that Israel was the first country in the world to join the electric car venture and that the Renault-Nissan Alliance had undertaken to supply electric cars to meet demand.

Published by Globes [online], Israel business news - www.globes-online.com - on March 27, 2008

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