Better Place Finds a Buyer, Will Keep Going

YERUSHALAYIM - Better Place has a buyer — and a new lease on life.

The Lod District Court approved on Wednesday the recommendation of Better Place  liquidators to sell the company’s operations and assets in Israel to Sunrise Ltd., headed by Yosef Abramowitz and the Association for the Promotion of the Electric Car in Israel, Globes reported.

The court also gave the green light to transfer of Better Place Switzerland’s intellectual property to the same group, subject to approval by the Swiss seller. The buyer will pay at least NIS 18 million for Better Place Israel’s assets and NIS 25 million for the intellectual property.

The buyers promised to continue operating Better Place’s network of battery charging points and replacement stations, as well as the sale of electric cars. They also promised to retain most of the company’s employees — 50 out of 85.