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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.

Watch Wired go hands-on with Tesla Model S 4.0

Our friends at Wired recently got their hands on the latest software release for the Tesla Model S. The 4.0 release adds a few interesting bits of functionality to the EV, including voice control for the navigation and telephone systems as well as Slacker Radio. Tesla employed Google voice-recognition software for the Model S, and Wired says the system is "far easier and more intuitive than most." High praise.
The update also adds another level of customization to the EV's steering wheel controls. The right knob now offers finer audio volume control while the left knob can be configured to handle everything from temperature setting to fan speed or even the opening and closing of the sunroof.
Wired also reports the 17-inch touch screen on the Model S now seems more responsive and that the update includes new graphical displays for the vehicle's range. Other nice tricks include revised throttle response and an adjustment to the vehicle's door handles - now owners need only approach their Model S for the door handles to pop out from their hiding places. You can check out the video below for a closer look.

Electric Miata smokes Tesla Model S at the track

Yes, folks, you read that headline right. A souped up battery-electric version of a Mazda Miata took down a Tesla Model S on a quarter-mile drag strip. And it wasn't even close. Road Test TV was kind enough to post a video of a forest-green Miata (and its very stoked driver) doing a quarter-mile run in a rather brisk 9.27 seconds, beating the Model S sedan by a whopping 3.5 seconds in the process. And the Mazda crossed the finish line moving at 142 miles per hour, or 40 miles per hour faster than the Tesla was going when it finished the race. It's a good thing for the Tesla owner that they weren't racing for pink slips. Granted, the comparison is probably an unfair one because the Tesla was a stock, production vehicle (the P85 Performance model, but still), whereas who knows how the Miata was juiced up and how much cash it took to do the job. It's sort of like putting, say, an automotive writer against Usain Bolt because we ate the same breakfast and share 99 percent of our DNA. Still, the video does lend a certain credence to the idea that a battery-electric, super-light, rear-wheel-drive Miata would be a lot of fun, or at least a heck of lot more fun than any other Mazda out there. We're just sayin'. Check out the 100-second video below, and remember not to blink. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.