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Elon Musk talks Tesla Model S updates, AWD version, Model X deliveries

Tesla Motors CEO Elon Musk does things differently than the heads of other car manufacturers. Case in point, he just made a quick European tour with stops in the Netherlands, Germany and Norway where he, along with CTO JB Straubel, held lengthy question and answer sessions with Tesla owners, reservation holders and other interested parties. Now, we recognize that the California company has a significantly smaller customer base than traditional automakers, making these sorts of events more logistically easy (see also: Fisker). Still, the effort is a refreshing change from scripted press conferences, and allows Tesloids to voice their concerns and criticisms to the exact person with whom the buck stops. It's also good for Tesla, in that it gives new ideas for future improvements a chance to reach the ears of those best placed to implement them. We out here in the wider world like these sessions because they give us a bit of extra insight into the firm's progress and future plans. So what are some of the things we can expect from the electric automaker in the coming months and years? Version 6.0 software is a few weeks away and includes real-time traffic information as well as increased suspension functionality, like lowering and heightening on command. Supercharger production is maxed out and installs are happening at a rate of around five per week. Superchargers will soon pump power at an impressive 135 kW rate, but will plateau there. An AWD Model S will be coming, perhaps around same time as the Model X. Bigger battery pack options may arrive as soon as next year. The new giga-factory for batteries could bring costs down by at least 30 percent, ideally 40 percent and will produce about 30 gigawatt-hours worth per year. After ramp up, volume production of Model X is expected to begin around April 2015. To improve comfort, there will be a seat modification available in the near term, and a different seat option available in a year (or so). Battery swapping between Los Angeles and San Francisco should be online in a few months. The company has analyzed energy usage in production process and claims energy payback happens in less than 10,000 miles. May release white paper on this soon. For lots more tips and tidbits (home energy-storage unit, anyone?) scroll down to watch video of the Netherlands exchange. The Norwegian event – held in a theater because of the crowds – can be viewed at this link. This content is hosted by a third party.

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.

Analyst predicts GM will buy Tesla in 2014

There's little question that Tesla has come at the automotive industry as an outsider. But will it last as an outsider for much longer? Not if you ask Yra Harris of Praxis Trading. According to USA Today, the veteran financial analyst recently predicted on CNBC that General Motors will try to buy Tesla in 2014.
It certainly wouldn't be the first time that GM acquired another automaker. It did just that when it purchased the rights to the Hummer brand from AM General in 1999 and completed its takeover of Saab the year after. But, of course, The General has since divested from both, shutting down its Pontiac and Saturn brands in the process. Daewoo and Oldsmobile are gone too, as is Geo. Chevrolet is to be withdrawn from Europe, and over the past few years, GM has sold its minority stake in Isuzu, Subaru, Suzuki and PSA Peugeot-Citroën as well.
Of course, none of these are dedicated electric carmakers like Tesla is, and the Volt may not be doing as well as Detroit had initially hoped. But does that mean it's ready to start expanding its brand portfolio again? With all due respect to Mr. Harris, somehow we doubt it - especially with Tesla currently enjoying sky-high market valuation. The company's market capitalization stands at over $18 billion - more than 100-plus times its earnings. That would make mounting a Tesla takeover a hugely risky and costly endeavor unless Wall Street tempers its stock value greatly.