Announcements are coming from Renault SA regarding its end of partnership with Better Place following the company’s Bankruptcy.

As all know, Renault SA (RNO) is France’s second-biggest carmaker. The company was in partnership with Better Place LLC since last five years for the development of the QuickDrop service. A service to help the owners of Renault’s Fluence get their battery switched in either of Better Place’s stations located in almost each country, in less than five minutes.

But it seems that the partnership will end soon as the operator of electric-vehicle charging stations has recently announced about its plans of shutting down its business.

Moreover, sources are also confirming about filing of a motion for liquidation by Better Place with an Israeli court. The filing has been done yesterday and reports confirm that the company has accepted its failure in attracting any new investments to its business.

Since 2008, Renault and Better Place are working together. Their aim was to sell 100,000 Fluence ZE, the French carmaker’s first electric vehicle, in Israel and Denmark by the year 2016.

With the news of partnership ending, the shares of Renault have dropped by 58 cents or approx 1 percent, coming down to 58.67 Euros.