HSBC now has a 10% stake after its $125 million investment in the company. Other investors are Morgan Stanley Investment Management and Lazard Asset Management.
Better Place launched an electric vehicle network in Denmark in December 2009 and is planning on launching a battery switch station this April in Tokyo. At the end of 2011 when the first Renault switchable battery electric cars are set to hit the road, it plans to kick off in Israel and widen its role in Denmark. In addition, it’s testing markets in Australia and North America.
HSBC stock was up $1.49, or 2.78 percent, to $55.03, while shares of Morgan Stanley were up 14 cents, or .5 percent, to $27.94.
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