Zoli, outlines Shai Agassi's new Project Better Place, an initiative funded to the tune of $200MM USD to deploy a grid for electric cars. Great stuff!

Shai re-emerged, launching Project Better Place, a company funded to the tune of $200M, which intends to deploy the infrastructure needed to support eletric vehicles.

Project Better Place wants to create the grid of recharge and battery exchange stations, and here comes the interesting part: they want to follow the mobile phone industry's business model, offering subscribers to the grid subsidized cars that are "cheaper to buy and operate than today's fuel-based cars".

Update: 10:08AM 10/28/07: Coverage by the New York Times