An Israeli-backed electric car project has unveiled a swappable-battery, developed in partnership with the Renault-Nissan company.
The founder of California-based "Project Better Place," Shai Agassi, estimated that its partner, the Renault-Nissan alliance, would likely invest 500 million to 1 billion US dollars in the cars.
Renault and Nissan signed a deal with "Better Place" in January 2008 to begin mass producing electric cars as a part of a project to develop alternative energy sources and slash oil dependency.
Denmark's DONG Energy recently signed a letter of intent with "Better Place" to introduce the electric cars to the Scandinavian country, where the batteries will be charged using wind power.
