Struggling electric vehicle manufacturer Better Place will wind down its Australian operations, weeks after the head of its Australian operations Evan Thornley resigned over a strategy rift.
The disagreement between the group's Israeli-based board and Mr Thornley, who was hired last October, left a dark cloud was left hanging over the Australian arm.
Now the company has officially said it will back away from Australia – and North America – to focus on the "core” Danish and Israeli markets.
"Consultations are underway with a view to securing an orderly wind-down of its non-core activities in North America and limiting any further investment in Australia beyond its current commitments,” Better Place chief executive Dan Cohen said in a statement.
"We believe in the long-term potential of both Australia and North America and are enormously encouraged by the enthusiastic response we get from all our customers.
"Therefore we will keep exploring solutions which will enable us to keep our long term options with regard to those markets open.”
Better Place had big plans for Australia, with Lend Lease Ltd, ActewAGL and RACV among the biggest investors in the local arm of the group.