July 7, 2014 | Israeli entrepreneur Shai Agassi, former CEO of Better Place, is set to open an electric public transportation company in Europe called ‘Newrgy’, according to a “Globes” report. The announcement came just a year after the liquidation of Agassi’s electric car venture Better Place during a conference on alternative solutions to municipal transportation in London at the end of June. Major car manufacturers such as Mercedes Benz, BMW, Ford and other executives in the electric and battery-powered car sector attended the event. The extent of Newrgy’s financing as well as initial seed investors are still unknown. Former Better Place executives believe that Agassi will focus on electric methods of public transportation, including electric cabs, that are popular and profitable solutions in European cities.