Israel Corp. unveils Better Place sun powered car

The car will be developed by Shay Agassi’s electric car venture Better Place LLC. Israel Corp. has a 33 percent stake in Better Place.

IC Green Energy CEO Dr. Yom Tov Samia said, "There is a very great synergy between the companies of Israel Corp. and the feasibility presentation here today proves that we are not far off today from using clean electricity for our daily needs."

Dr. Samia added that at the end of the second quarter of 2010 IC Green Energy will put 2 megawatts of green electricity into the national grid.

Better Place’s electric vehicles with rechargeable batteries can be purchased from 2011 and cooperation agreements to supply fleets for employees have been signed with major companies including Amdocs Ltd. (NYSE: DOX), Teva Pharmaceutical Industries Ltd. (Nasdaq:TEVA; TASE:TEVA) and Bezeq Israel Telecommunications Company Ltd. (TASE:BZEQ).