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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.

Why 2015 is going to be a huge year for trucks

Nissan chief executive Carlos Ghosn took center stage to introduce the 2016 Titan last week at the Detroit Auto Show. He spoke of the truck's new features, impressive Cummins V8 diesel engine and the extensive amount of time and money required to build a modern, competitive pickup truck. "We have done all of this because we see opportunity – an opportunity in the unmet needs of today's American truck customers," Ghosn said. He was speaking about the Titan, but his thoughts echo the industry's mindset: When it comes to trucks, find an opportunity and attack. Even with CAFE regulations looming and fickle consumer preferences, investing in trucks is a no-brainer for automakers. Some consumers will always need a truck for their job or lifestyle. And some people will always want one, whether they need it or not. With that in mind, here are four reasons why the pickup-truck sector is more important than ever and poised for growth in 2015. View 24 Photos The Nissan Titan Is Back Okay, it never left, but the Titan hadn't been redesigned since its launch in 2003, and Nissan sold more NV200s than Titans in 2014. It's an understatement to say the truck was languishing. That all changes with the 2016 model. The Titan will come in two variants, a traditional fullsize competitor and the Titan XD. The XD will lead the market launch, and it arrives late this year. It's pitched as a "whitespace" offering, Nissan sales and marketing vice president Fred Diaz said. The idea is to offer something in the general size and price range of a fullsize truck, but also have some of the capability of a heavy-duty truck. The XD uses a fully boxed ladder frame, the chassis design from Nissan's commercial division, and the wheelbase is about 20 inches longer than other Titan models. The XD, which Nissan is calling the flagship of the line, will be the only model with the 5.0-liter Cummins turbodiesel V8. It produces 310 horsepower and 555 pound-feet of torque, while being able to tow 12,000 pounds. V6 and V8 gasoline models will also be offered on the Titan XD and the standard, non-XD model. When production ramps up, the Titan will be sold with several cabs, beds and trims. New features include trailer sway control, an integrated trailer brake controller, more storage options in the cabin and even laminated front and rear side glass to reduce outside noise. All of this has given Nissan fresh confidence in an area where it admittedly has been lacking. "We can compete," Diaz told Autoblog.

Chevy to show redesigned Captiva in Geneva, will it come to US rental lots?

Unless you're renting a car or driving through Orlando, Florida (the rental car capital of the US), you'll probably never see a Chevrolet Captiva - the rebadged, fleet-only version of the old Saturn Vue - on our roads, but this crossover is popular in many other parts of the world. As such, Chevrolet announced that the Captiva will be getting an update for 2013, which will be unveiled next week at the Geneva Motor Show.
Coming off a pretty extensive refresh in 2011, the 2013 model year will bring even more changes to the Captiva like LED taillights, new 18-inch wheels and revised fascias with a new grille and fog lights up front and inset chrome exhaust outlets at the rear. New interior features include heated rear seats, dual-zone climate control as well as available options on some of the upper trim levels such as leather seating and keyless entry and start. We have yet to hear back from Chevrolet as to whether or not the updated Captiva will be making its way to a rental lot near you, as the model is only available in the US to fleet buyers.
Alongside the updated Captiva, Chevy is also showing off its new Trax in Europe, where the subcompact crossover will go on sale this spring. GM's press release for these two Geneva-bound models is posted below.