Israel to Back Electric Car Plan

Isreal's cabinet is set to endorse an aggressive plan to convert the country to all electric cars, which is a decent idea if you're surrounded by oil-producing countries that kind of hate you. The idea is to spread charging points (500,000 of them) across the country and let people buy the cars and lease the batteries at a low cost, similar to cell phones. It's a fascinating proposal and may have legs thanks to the endorsement, which comes with major tax breaks and other forms of support. Renault has been mentioned as a possible partner, but the plan hasn't gotten quite that far.

The idea is the brainchild of former SAP exec Shai Agassi, who sees this as an opportunity to revolutionize car ownership and usage. Initially, power for the cars will come off the regular grid. But the firm plans to build a fully solar system once usage creates the capital and reason for such an investment. [Haaretz]