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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.

OnStar to offer 90-day driving assessment, possible insurance discount

General Motors has announced a brace of new features for OnStar, two of which could help you save money assuming you're willing to sign over some (more) personal details. The first is a driving assessment program in which OnStar takes note of certain driving parameters for 90 days, then provides the driver feedback on their driving, both individually and when compared to other drivers in the program, as well as driving tips. Think of it as OnStar's ICE version of the Nissan Leaf's CARWING feature that compares how efficient your electric driving is compared to other BEV drivers. In this case, though, certain drivers will have the chance to share their assessment with Progressive Insurance, and if the numbers are right they might get a "driving-based" discount from the insurance company. The assessment program is voluntary, and requires opting in. It will be available this summer on all new GM cars and some GM vehicles back to 2013. In case this sounds like Big Brother, let's not forget that Big Brother is already here and moved in so long ago that he's a member of the Kiwanis club and is hosting neighborhood block parties. Progressive already has a million enrollees in a program called Snapshot that tracks OBD II data to offer usage-based insurance to provide annual pricing based on how much you drive your car, with discounts of up to 30 percent. The OnStar effort is just another way to do that. The second feature is proximity offers through AtYourService, which notifies drivers to deals and information on their driving route and provides coupons from RetailMeNot and Entertainment Book. Beyond that, a deal with Priceline will let OnStar agents book hotels for you starting this year, there's a tie-in with Dunkin' Donuts, too, but we're fuzzy on those benefits, and third new feature lets Chevrolet owners know when certain parts need replacing. News Source: Detroit NewsImage Credit: AP Photo/Carlos Osorio Chevrolet GM Technology

Recharge Wrap-up: 'Racing Extinction' Tesla, Wards praises 3 hybrids

The makers of Racing Extinction used a tricked out Tesla Model S for their movie. The artists and activists used the electric car as a platform to project images from nature in various cities to raise awareness about imperiled wildlife. In addition to a the high-powered projector, the Model S features a electroluminescent paint job that emits light to mimic creatures found in the wild, such as bioluminescent sea life. It also has a thermal imaging camera in the front of the car with a filter to view CO2 emissions. Check it out in the video above, and read more at Ecomento. WardsAuto has named the 2016 Hyundai Sonata Plug-In Hybrid's powertrain to its list of 10 Best Engines. As the first plug-in hybrid to make the list, WardsAuto World Editor-in-Chief Drew Winter praises Hyundai engineers for their "impeccable job blending fuel efficiency with refinement and daily usability." Wards notes the car's smooth transitions between electric and hybrid modes, and a well-connected six-speed automatic transmission. Other electrified vehicles to make the list are the 2016 Chevrolet Volt and 2016 Toyota Prius. Read more from Hyundai, at Green Car Reports. FEV's plug-in hybrid battery pack has gone into vehicle series production. The 10-kWh battery pack, developed by the German development services provider, offers an all-electric range of about 30 miles. FEV says its battery management algorithms are just as important as choosing the right battery hardware. "The core system for the battery development is our own mature battery management system (BMS), now in its third generation, that together with optimized algorithms allows a very reliable and stable control of the battery," says FEV's Dr. Michael Stapelbroek. Read more at Green Car Congress, or in the press release from FEV below. Hybrid Vehicle Goes Into Series Production FEV development competence consists of batteries, controls, as well as complete drive systems FEV has demonstrated competence in the development of alternative drive concepts for almost twenty years. Most recently, yet another plug-in hybrid vehicle has gone into series production with technology provided by the Aachen-based developer. In addition to using an innovative transmission concept which is based on a FEV patent, FEV also developed the battery technology of the plug-in hybrid vehicle to series production readiness.