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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.

Kurt Busch to shake and bake (again) in Ricky Bobby car at Talladega

Kurt Busch will channel Ricky Bobby for another NASCAR race, this time driving a Wonder-sponsored Chevrolet SS, in this weekend's Camping World RV Sales 500 at the Talladega Motor Speedway. Unlike past tie-ins, though, there's actually an element of sponsorship here (the "Me" car was done when Busch was running on a team without sponsorship).
It was arranged by Flower Foods, the new owner of the Wonder brand. Wonder was part of the bankrupt Hostess company, which temporarily exited the US market 2012, and set off the Great Twinkie Shortage.
Busch has made something of a habit of channeling characters from famous racing movies, most recently running Tom Cruise's City Chevrolet livery from Days of Thunder in a Nationwide Series race earlier this year. Busch kicked off his movie-inspired antics, though, at Talladega in 2012, when he raced El Diablo's ("It's like... Spanish for like a fighting chicken") "Me" car complete with a cougar on the hood. He even went so far as to channel the lovable idiot that is Ricky Bobby during the race, dropping a few catchphrases about macchiatos and slingshots.

More Corvette Stingray Factoids: Vanishing panel gaps and 26-mpg LT1

During January's Detroit Auto Show, we managed a longer than expected wandering tag-team interview with C7 Corvette chief engineering exec Tadge Juechter (pictured above), and LT1 engine boss Jordan Lee (pictured below). They are, quite honestly, two of the very nicest bigshot lads to ever walk the engineering corridors of an American manufacturer. Both are enthralled by what they're doing for a day job. So are we.
We've followed the pre-sale anticipation for the Chevrolet C7 Corvette Stingray like an Oreck vacuum yanking every speck of dirt from a well-trampled carpet. Everything is reportable and contains a grain of further knowledge about this dramatically important and cheered-for car, as it continues to be pressured into representing all that is superior about the American dream. The Corvette wears one heavy cloak.
So, most of what was talked about has been expertly reported already right here on Autoblog. But, looking through our notes again, both Jeuchter and Lee added facts to the buzzing mix.