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Bill Clinton’s Great Advice: Another Green Car Company Goes Belly Up

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Dan Primack , CNN Money

Bill Clinton: “As a matter of fact, if you can give away your car for free, that’s a sure way to succeed.”

Electric car company Better Place is planning to file for bankruptcy within the next several days, Fortune has learned.

The move will come seven months after the ouster of charismatic founder Shai Agassi, and five months after his successor — Evan Thornley, CEO of Better Place Australia — also departed.

Agassi also was a significant investor in the company, which had raised more than $700 million from firms like HSBC, General Electric (GE), Israel Corp., Lazard Asset Management (LAZ), Morgan Stanley (MS) and VantagePoint Capital Partners.

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see also: Bill Clinton Had Some Great Advice For The Founder Of An Electric Car Company