With predictions of selling over 110,000 electric cars, the folks at Better Place appear to have come to an end of their vision for an environmentally friendly electric car gaining momentum in Israel. The company fell very short of its goal, having sold less than 2,000 vehicles.

Israel Corporation, the controlling share holder in Better Place, notified TASE that it does not plan to invest in the company’s upcoming financing round. Better Place has all but exhausted over $800 million in funding.

Better Place was founded in 2007 and reports a loss of over $812 million as of the end of 2012.

It is unclear what will become of the vehicles purchased regarding battery exchange stations and other services promised nationwide.

(YWN – Israel Desk, Jerusalem)