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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.

Sunday Drive: Taking a gaze into the automotive crystal ball

Mankind has long been fascinated by the future. So it makes sense that this past week's top stories were all about cars, trucks, and SUVs that won't be hitting the market until the 2019 model year. And right at the top of the list is the Ram 1500. We've come to know Ram as the truck maker that styles its pickups with cues cribbed from big rigs, but that look has slowly evolved over time into something uniquely its own. The next Ram 1500 continues this trend, with a newly refined look that we can't wait to see in person. Up next is the 2019 Chevy Silverado. Pickup trucks have been, continue to be, and will remain the best-selling vehicles in America. And General Motors is a leader in the field, with two distinct offerings with which to entice buyers, one from the bread-and-butter Chevrolet brand and one wearing the slightly more upscale GMC badge. The Chevy looks to get LED lighting elements for 2019, which ought to keep the truck from looking dated when compared to the Ford F-150 and the previously mentioned Ram 1500. From there we move past pickup trucks and into SUVs and sedans. The 2019 Jeep Cherokee looks to get toned down a bit with its next refresh, and the '19 BMW 3 Series continues its slow evolutionary journey at the top of its aspirational sales pedestal. Finally, spy shots give way to official production reveals for the 2019 Audi A7 and Polestar 1. This pair of European luxury cars won't compete with one another – one is a rakish hatchback and the other a sports coupe – any further than for the eyeballs of our readers, but both proved popular enough to merit inclusion in our weekly roundup. As always, tune in to Autoblog next week for a front-row seat to all the happenings worth following in the automotive industry. 2019 Ram 1500 spotted without the classic crosshairs 2019 Chevy Silverado spied with new LED accents 2019 Jeep Cherokee reveals a much more normal face 2019 BMW 3 Series spy shots reveal production lights, new interior details 2019 Audi A7 revealed: More torque, refined styling Polestar 1 First Look | The 600 horsepower hybrid Scandinavian Green Audi BMW Chevrolet Jeep RAM Volvo Truck Hatchback SUV Future Vehicles Hybrid Luxury Performance Sedan sunday drive polestar 1

This is how GM is hiding new Chevy Volt in public

General Motors is letting the public know that, well, it's not about to let the public know anything else about the next-generation Chevrolet Volt. But the automaker is willing to talk about its camouflaging process for upcoming versions of the extended-range plug-in. So it's a half-hearted secret, at best. GM actually has a "camouflage engineer" charged with creating ways to disguise the styling of new vehicles. In the Volt's case, the company is applying black and white swirly color patterns on top of the materials, such as plastics, vinyl and foam, that are used liberally across the body. It's all part of a teaser campaign that started last month with pictures of part the 2016 Volt. Earlier this month, GM said it was keeping track of Volt drivers' habits as it works on the next-gen model. The company noted that more than four out of five trips are being made in all-electric driving mode, and that 60 percent of Volt owners use a plain-old 100-volt outlet to recharge their cars. The car is slated to make its global debut at Detroit's North American International Auto Show next January, and the early word is that performance and all-electric range will be improved (we should hope so). The car will also be sleeker. By how much, we can't tell yet, because of those darn swirly patterns. GM's got more non-details in its press release below. Engineers charged with hiding styling while vehicle testing proceeds in public DETROIT – The styling of the next-generation Chevrolet Volt is one of the automotive world's best-kept secrets. Keeping customers and media eager to see the successor to the groundbreaking original at bay until the new Volt debuts at the North American International Auto Show in Detroit in January is tricky business. First, it is engineers, not designers, who are charged with creating camouflage that balances styling secrecy with the need to validate the Volt and its systems in public. "If it were up to me it would be a shoebox driving down the road," said Lionel Perkins, GM camouflage engineer. "The design team wants us to cover more of the vehicle and the engineering team needs to have enough of the vehicle's weight and aero exposed so that the tests in the development process are consistent with the product that will come to market." The engineers responsible for the "cool" designs covering the car might deserve style points but their efforts are intended strictly to hide the metal beneath.