If there’s ever a reason why you should avoid investing in the electric-car revolution it’s a start-up called Better Place L.L.C.

Based in Silicon Valley, the company is negotiating with governments and car makers to set up networks of charging systems for electric-car batteries.

The New York Times ran a story today about how Hawaiian Electric Company endorsed the Better Place system of rechargeable stations and swappable batteries. Better Place already has garnered endorsements from Israel, Denmark, Australia, Renault-Nissan and a coalition of Northern California.

In essence, the endorsements constitute permission for Better Place to install its system.  Here’s how Better Place makes money for investors:

Drivers pay to access a network of charging spots and conveniently located battery exchange stations powered by renewable energy. – Drivers pay for the miles they drive. – Cars are made much more affordable—even free in some markets—by the business model’s financial and  environmental incentives to add drivers

The Chevrolet Volt is scheduled to roll off the assembly lines in Hamtramck sometime in late 2010. The vehicle will be powered by onboard batteries and a 1.4 liter 4 cylinder engine that will kick on after the 40 mile range of the battery charge has run out. General Motors likes to refer to it as an “electric car” but in reality it is a hybrid gas-electric vehicle.

The vehicle should provide a long enough range on just the battery charge for an estimated 75 percent of American’s to be able to make it to work and back on a single charge. Re-charging the batteries will only take an estimated 10 hours. It is very likely that many who purchase the Volt could go weeks on just battery power assuming they re-charge every night.

Some of the technological innovation that has gone into production of the EV1 is simply amazing: