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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.

Tarantino's stolen Chevy Malibu from Pulp Fiction recovered after 19 years [w/video]

Quentin Tarantino fans will likely remember Vincent Vega's cherry 1964 Chevrolet Malibu Convertible in Pulp Fiction. In a movie drenched in automotive references, the Malibu is very nearly a character in and of itself, and it serves as the subject of Vega's soliloquy about the kind of man who vandalizes another's automobile. It also happened to be Tarantino's personal car when the film was shot, and was apparently stolen shortly after production wrapped. Now police have located the car some 19 years later.
As it turns out, the thieves cloned the vehicle identification number from another '64 Malibu and had the car registered under the new digits. It was then sold to an unsuspecting buyer. Police happened upon the duplicate VINs while investigating another potential theft. Right now, it's unclear whether Tarantino has taken possession of the Chevrolet, if it has remained in the possession of the fraud victim, or whether it's caught somewhere in the gears of justice. Either way, you can catch Vega's memorable thoughts on the car keying in the Pulp Fiction clip below. But consider yourself warned: the video contains explicit language as Not Safe For Work as it comes.

Officially Official: Chevrolet replaces Daewoo name in Korea

Chevrolet Camaro in Korea - Click above for high-resolution image

There once was a time when Daewoo was one of the biggest companies in South Korea. It was larger than both LG and Samsung, and second only to Hyundai. But these days the name is all but gone.