Better Place will use the proceeds to expand into Western Europe while it continues to advance the company’s deployment projects in Northern California, Southern China, Japan, Ontario, Canada, and Hawaii. The company will launch its initial commercial service in Israel and Denmark early next year and has already announced a series of consumer offerings for electric mobility services that are competitive with gasoline-based cars. Better Place will begin initial commercial service in the second quarter of 2012 in Australia, starting in Canberra.

“We’ve worked hard over the past four years to engineer and build a technology solution that competes with oil-based transportation,” said Shai Agassi, Founder and Chief Executive Officer, Better Place. “We are entering the next phase of growth for our company where we prove that our solution works, that it’s in demand, and that it scales, as we begin to push into new markets and attract new investors and new partners. I believe that our investors should be applauded for having the vision to finance the future of transportation.”

New investors in the Series C round include GE and UBS AG, among others. Existing shareholders, including Israel Corp., HSBC Group, Morgan Stanley Investment Management, VantagePoint Capital Partners, Ofer Group and Maniv Energy Capital, also joined the round. The Series C financing transaction is expected to close in the fourth quarter of 2011.

“With this round, our shareholder base now includes the world’s largest banks, blue chip asset managers and leading industrial holding companies,” said Idan Ofer, Chairman, Better Place. “Our Board, as well as all of our investors, continues to be both confident and enthusiastic about the opportunity that Better Place presents. The highly competent Better Place team has the talent and technology to rapidly deploy its electric car network on a global scale. Our Board and investor base are committed to leveraging their vast networks, experience, and diverse set of skills to accelerate the global adoption of electric cars.””

Read more: Press Release

Tax rebates, dedicated parking spots and measures aimed at promoting government use of electric cars are among the other incentives to be adopted as Germany strives to meet a target of 1 million such vehicles on the streets by 2020, Chancellor Angela Merkel told reporters in Berlin today.

“We’re going to see these vehicles come in very quickly,” though “the really broad market debut will still take a couple of years,” Merkel said. “I’m certain that German producers will be in the fray at the right time.”

Germany is banking on electric vehicles as it seeks to ensure the future dominance of carmakers including Volkswagen AG (VOW), Daimler AG (DAI) and Bayerische Motoren Werke AG. (BMW) Merkel’s Cabinet will back a progress report on measures to speed the development of electric cars when it meets in Berlin tomorrow, she said.”

Read more: Bloomberg

“Inaugurating the first Freedom Station in the Dallas/Fort Worth Metroplex is a critical first step toward making electric vehicles the smart and convenient choice for Texans who want to reduce their cost of driving while contributing to cleaner air and America’s energy independence,” said David Crane, NRG President and CEO. “We’re taking a page from Southwest Airlines when they started out 40 years ago to link the major population centers in Texas. This first station is the start of an ecosystem that will eventually give Texas EV owners the freedom to drive with range confidence throughout the region.””

Read more: Press Release

“We are very pleased to report continued revenue growth, improving margins and a steady progression in our Roadster and powertrain activities,” said Elon Musk, CEO of Tesla Motors. “Our powertrain team delivered solid results, with an increase in orders and record deliveries of battery packs and chargers for the Daimler Smart fortwo electric drive, the completion of our development program for the Daimler A-Class, and the commencement of the phase 1 development program for the Toyota RAV4 EV.”

“The highlight of the quarter was our on-time completion of the first drivable Model S alpha,” continued Musk. “The quality and level of refinement of the alpha demonstrates the superb job of our design, vehicle engineering and powertrain teams. They have embraced the opportunity to build an EV from the ground up and have produced a vehicle which shows great potential to deliver superior aerodynamics, stability and handling, crash safety, performance and range. We believe the Model S is well on its way toward becoming the vehicle of choice for 2012.”

Tesla Motors reaffirmed that it remains on schedule for first customer deliveries of the Model S in mid-2012. A fleet of Model S alphas are being built for cold weather brakes testing, ride and handling, safety validation, electrical integration, and noise, vibration and harshness evaluation. At Tesla’s Fremont facility, The Tesla Factory, detailed readiness plans are being executed at each of the stamping, plastics, paint and final assembly shops. Installation of the manufacturing equipment continues on schedule, including significant progress with the installation of the hydraulic press line.

Net loss for the quarter was $51.4 million as compared to $34.9 million in the prior quarter. On a non-GAAP basis, net loss for the quarter was $44.1 million as compared to a non-GAAP net loss of $34.2 million in the prior quarter, as improved gross margin was offset by increased spending on research and development and continued expansion in our sales and marketing activities. Non-GAAP net loss excludes charges related to stock-based compensation and the change in fair value related to our outstanding warrants. A reconciliation of GAAP results to non-GAAP results is included below. Net loss for the year was $154.3 million as compared to $55.7 million in 2009.”

Read more: Tesla Motors

“Skeptics have suggested it would probably be many years before lithium-ion batteries with significantly lower cost and higher capability are available, potentially limiting sales of electric vehicles for the foreseeable future,” said Jon Lauckner, president of GM Ventures. “In fact, our announcement today demonstrates that major improvements are already on the horizon.”

Other participating investors in Envia are Asahi Kasei and Asahi Glass; as well as current investors Bay Partners, Redpoint and Panagea Ventures. The funding of the investor group totaled $17 million.

“With our high-capacity manganese rich cathode material, Envia is addressing two key issues in the nextgeneration battery cells – higher capability and lower cost,” said Atul Kapadia, founding investor, chairman and CEO of Envia Systems. “The investments announced today from GM and the two new strategic investors, demonstrate the excitement around our technology, as well as the importance of the challenge.

“We believe our battery materials have taken the technology lead that will help lower price points and unlock the market potential for our customers,” Kapadia said. “With our technology and products, we believe that Envia is best-positioned to win a significant portion of this very large battery materials market.”

Envia’s advanced cathode technology uses inexpensive materials that store more energy per unit of mass than current cathode materials. Since the cathode is a key driver for the overall battery cost, the more energy the cathode delivers, the lower the battery cost because fewer cells are needed.”

Read more: Envia Systems Press Release

Volt Concept

According to the press release, “Chevrolet announced today that it will invest $40 million in various clean energy projects throughout America with a goal to reduce 8 million metric tons of carbon dioxide emissions. The initiative is based on projects that promote energy savings, renewable energy, responsible use of natural resources and conservation in communities across the United States.

According to the U.S. Environmental Protection Agency, 8 million metric tons equals the CO2 emissions of one year of electricity use in 970,874 homes or the annual carbon reduction from 1.7 million acres of pine forest.

Chevrolet’s clean energy investments to be implemented in the next three to five years may include projects such as:

• Providing energy efficient technology such as smart energy sensors and solar panels to schools and other community-based facilities in need of upgrades to decrease carbon dioxide emissions and reduce heating bills.
• Supporting wind farms and solar projects that deliver renewable energy to the grid and also help family farms increase their revenues per acre.
• Capturing flammable methane from community landfills that delivers clean energy to the grid and improves local air quality and safety.
• Contributing to forestry projects throughout America.

“GM has made great progress in reducing our environmental impact, but we know we can do more,” said General Motors CEO Dan Akerson.  “Chevrolet’s investment is an extension of the environmental initiatives we’ve been undertaking for years because the solution to global environmental challenges goes beyond just vehicles.

“This is an opportunity to connect with Chevy customers through clean energy projects that directly impact them,” Akerson said

GM estimates its new carbon-reduction goal equates to the emissions in 2011 from driving the 1.9 million vehicles Chevrolet is expected to sell in the United States over the next year.

“Chevy is an iconic emblem of America and it is a big deal that it is stepping forward to address one of our greatest challenges – moving us toward a low-carbon future,” said Eileen Claussen, president of the Pew Center on Global Climate Change. “Chevy is clearly demonstrating that companies can act now and help propel clean energy solutions.”

Since 1990, GM has decreased its manufacturing emissions by 60 percent. GM also has invested hundreds of millions of dollars to build fuel-efficient vehicles like the Chevrolet Cruze Eco, which gets an EPA-estimated 42 mpg on the highway, and the Chevy Volt electric car with extended-range capability. The Volt allows 25-50 miles of pure electric driving on a single charge after which a small gasoline engine/generator creates electricity for an additional 300 miles.

“Chevy’s Volt and its clean energy investment both exemplify the bold leadership businesses can take today to address our changing climate,” Claussen said.” Its commitment to community-focused clean energy and energy efficiency investments will drive change and increase awareness across the country.”

Other GM initiatives include reducing water use by nearly 35 percent between 2005 and 2009 at manufacturing facilities worldwide; decreasing fossil fuel at GM plants by using landfill gas, hydro and solar power; recycling 90 percent of the waste the company generates; and operating 75 landfill-free facilities, more than half of its manufacturing plants globally.”

Read more: GM Press Release

Panasonic paid $21.15 per share yesterday for the holding in Tesla, which also counts Toyota Motor Corp. and Daimler AG among its investors, the U.S. carmaker said today in an e-mailed statement. The investment expands on a multi-year collaboration between the companies announced earlier this year.

The move is “a powerful endorsement of our technology,” Elon Musk, Tesla’s chief executive officer, said in the statement. “We believe our partnership with them will enable us to further improve our battery pack while reducing cost.”

Tesla, maker of the $109,000 electric Roadster sports car, has a set a goal of becoming the auto industry’s leader in battery-powered cars, aided by supply agreements with Toyota and Daimler. The Palo Alto, California-based company is revamping a former Toyota joint-venture factory in the state that is to begin making its $57,400 Model S in 2012.”

Read more: Bloomberg

General Electric

According to the press release, “GE  and Better Place, a leading electric vehicle (EV) services provider, today announced a technology and financing partnership to accelerate the global deployment of electric vehicle infrastructure through collaboration in four key areas: standards-based technology development, battery financing, joint fleet electrification programs and consumer awareness.

The partnership combines GE’s global scale, broad technology portfolio, smart grid expertise, and its new WattStation™ electric vehicle charger with Better Place’s EV services and infrastructure solution to create scalable solutions that power electric vehicles for nearly all consumers and fleet owners.

“GE values the power of collaboration and this partnership with Better Place is about large and small companies aggregating their strengths to advance electric vehicle infrastructure deployment,” said Beth Comstock, GE senior vice president and chief marketing officer. “By integrating our WattStation with this service solution, we can help digital energy transform our roadways and provide a cleaner, more sustainable transportation alternative.”

“Almost three years ago, Better Place identified the transformation from oil to electricity as the last massive ‘digitization’ of energy, and a significant economic opportunity globally,” said Shai Agassi, Founder and CEO, Better Place. “Our collaboration with GE is another significant step forward for Better Place as we seek to assemble a formidable ecosystem of industry leaders including Renault, HSBC and now GE that can help us scale our model globally. Our team of partners is committed to accelerating the acceptance of electric cars as more affordable and more convenient than our gasoline heritage.”

The partnership includes collaboration in four areas:
1. Standards-based technology: GE’s WattStation™ will be compatible with the Better Place network. Under the Better Place model, the ownership of the car and battery is separated, allowing EV drivers to avoid the heavy up-front cost of the battery and instead pay for miles and a more convenient, cleaner solution for personal transport. This partnership will allow consumers that manage charging costs under Better Place’s network to easily charge their vehicles using GE’s WattStation. Establishing charging uniformity for electric vehicle drivers, guarantees drivers can “roam” from one charge point to another under one seamless transaction for faster charging and a more convenient experience.

2. Battery Financing: GE and Better Place will develop a battery financing program that begins with a pilot project to finance 10,000 batteries in Israel and Denmark, which are the first two markets for Better Place. This financing will further drive the early EV market in those countries, helping to bring the first 10,000 electric cars to consumers there.

3. Fleet Electrification: GE and Better Place are collaborating to target fleet owners for pilot projects to test a comprehensive fleet electrification offering model in major city centers and connecting highways. The goal is to convert corporate fleet owners to electric fleets, so owners reap both the economic benefits of lower cost of ownership as well as reducing harmful carbon emissions.

Target pilot locations include cities in North America, including the San Francisco Bay Area, Honolulu, Hawaii, and Ontario, Canada, as well as cities in Europe, Asia and Australia. Better Place is already working towards initial network deployments in these markets, beginning in 2011.

4. Consumer Awareness: Better Place and GE, as part of its ecomagination initiative, will focus on raising consumer awareness to understand the economic and environmental value of widespread adoption of electric transport and the infrastructure that is needed so make that level of adoption a reality.

According to Reuters, “Electric carmaker Tesla Motors Corp’s initial public offering zoomed ahead on Tuesday with shares rallying more than 40 percent as investors bet that electric cars would define the future of transportation.

Tesla’s shining debut came despite weakness in the broad market and as other auto stocks were hit by concerns of a global slowdown. Tesla was the top gainer on the Nasdaq on Tuesday, offering hope to other companies mulling initial public offerings but which may have shied away given recent volatility.

Tesla’s closing share price of $23.89 boosted its market capitalization to $2.22 billion, compared with $1.6 billion on Monday night. It is the first initial public offering by an American automaker since Ford’s debut in 1956. The debut comes amid heightened interest in electric cars and as major automakers gear up to launch various types of battery-powered vehicles, including plug-in hybrids.

“They’re competing against both internal combustion engines and alternative fuels like fuel cells, compressed natural gas and things like that,” said Matt Therian, an analyst with Connecticut-based IPO research house Renaissance Capital. “It’s probably too early to say that electric vehicles are definitely going to be the next thing in cars, but if they are I think the potential is huge.”

Analysts say that the cars may be sleek, but the shares will be volatile in the near term. The Palo Alto, California-based company is losing money and does not expect to be profitable for at least two years.

“A lot of people were puzzled about why we were going public without profits,” CEO Elon Musk, dressed in jeans and wearing a plaid blazer and a shepherd’s checked shirt, told reporters outside the Nasdaq building in Times Square.

“The reason we are not profitable today is because we are in the midst of expanding with the Model S (sedan),” said Musk.

The IPO is also the first for the eccentric and charismatic Musk, who is the inspiration for Robert Downey Jr’s Tony Stark character in “Iron Man” and also has a cameo role in this summer’s sequel.”

Read more: Reuters