The U.S. has no shortage of government and private funding for electric car innovations and charging networks. But it’s missing one thing that can really make it a big electric car market: expensive gasoline. At least that’s the main reason why Better Place will be using the majority of its recently-announced $200 million round on building its business in Western Europe, said Andrey Zarur, a board member of Better Place.
“Western Europe has the highest average price for gasoline, and we can provide services at a relative low cost. That is where Better Place sees the low hanging fruit for deploying our solutions,” said Zarur during a conference call with reporters Thursday.