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Recharge Wrap-up: Tesla P85D upgrades coming soon, lease a Chevy Volt for $149 a month

CarCharging has raised $6 million from shareholders and has restructured to save cash. The EV charging company plans to expand further in 2015 - with an eye toward achieving profitability - in part by investing in technology and "unlocking the value of our significant equipment inventory," says CarCharging CEO Michael D. Farkas. The group expects to reduce administrative costs by 40 percent, and has hired an interim Chief Financial Officer to help carry out its plans for growth. CarCharging raised the cash through offering convertible preferred stock to its shareholders, whom Farkas thanked "for their passion and patience." Read more in the press release below. Rydell Chevrolet in Los Angeles is offering Chevrolet Volt leases for $149 per month. In a video ad, Rydell offers the Volt for $169 a month with $3,390 due at signing, but another ad shows the offer at $149 a month with $3,550 down or $248 per month with $0 down. Rydell Chevrolet will ship the car anywhere in the lower 48 states. It also appears they offer cupcakes. See Rydell's video below, or read more at Inside EVs. Tesla will upgrade the Model S P85D with higher performance and top speed. The free update, which is due "in the next few months" according to a statement from Tesla, will raise the electronically limited top speed from 130 to 155 miles per hour. "Additionally, an over-the-air firmware upgrade to the power electronics will improve P85D performance at high speed above what anyone outside Tesla has experienced to date," Tesla says. The update will be available for the lifetime of the car, which includes subsequent owners. Read more at Green Car Reports. Car Charging Group Completes $6 Million Capital Raise Concurrently Enacts Restructuring Actions to Reduce Cash Burn MIAMI BEACH, Fla., Dec. 29, 2014 /PRNewswire/ -- Car Charging Group, Inc. (OTCQB: CCGI) ("CarCharging" or the "Company"), the largest owner, operator, and provider of electric vehicle (EV) charging services, today announced that it has closed an offering (the "Offering") and raised net proceeds of up to $6 million with current institutional shareholders. The Offering consisted of convertible preferred securities with a conversion price of $0.70 and warrants exercisable at $1.00. Proceeds will be used to: - Strengthen CarCharging's balance sheet; - Build on the past year's progress; and - Provide growth capital for expanding the Company's network.

Some 2012-13 Chevy Volts may not have enough battery coolant

The 2012 and 2013 model year Chevrolet Volt extended-range plug-in vehicle may have a battery glitch caused by low coolant levels. No recall has been issued and General Motors is taking care of the issue at no cost to drivers. Some of the affected Volts may have lower-than-advisable coolant levels because of some pesky air pockets in the car's cooling circuit. When the coolant levels get too low, the charging system for the battery powering the car's onboard generator (i.e. the Rechargeable Energy Storage System, or the RESS) may be shut down, turning one's Volt into a run-of-the-mill gas-powered car, and a pricey one at that. The Car Connection says GM is advising owners of the '12 and '13 Volts to contact their local Chevy dealer for a free fix. GM representatives didn't immediately respond to a request for comment from AutoblogGreen for more details. We believe this is a separate issue than the one that brought 8,000 Volts back to the dealers for a battery coolant fix, what GM called a "voluntary customer satisfaction effort," a few years ago. General Motors sold 23,094 Chevy Volts last year after selling 23,461 Volts in 2012, so that fix-it list may get fairly lengthy. Check out a GM-Volt.com user thread related to this issue here. *UPDATE: Chevrolet spokesman Randy Fox confirmed in an e-mail to AutoblogGreen that the company issued a service bulletin to dealers that they may need to top off coolant levels on certain Volts because of the issue, and that the vehicle will "return to normal charging operation" once that's done.

Chevy Chaparral 2X Vision Gran Turismo concept blends the past and the future

The Chevrolet Chaparral 2X Vision Gran Turismo is the rare concept car that salutes a seminal moment in history, yet also borders on science fiction.
Revealed Wednesday at the Los Angeles Auto Show, the concept uses the name of one of Chevy's historic racing partnerships, with Chaparral Racing, which dates to the 1960s. Chaparrals raced successfully at a range of levels, including IndyCar, Trans-Am and SCCA competition.
But the history ends there, as the concept's main purpose is as a racecar in a downloadable update for the PlayStation 3 game Gran Turismo 6.