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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.

Corvette Z06 and Viper TA square off at the strip

There are many long-standing grudge matches among automobiles: 911 vs GT-R, Mustang vs Camaro, Ferrari vs Lamborghini... but as far as high-end American metal goes, it doesn't get much more legendary than Viper vs 'Vette. So after Chevy released the new Corvette Z06, we knew it was only a matter of time before it would have to square off against the Viper TA. And what better place to pit these two parallel pillars of American performance than on the drag strip? Fortunately that's just what we have here. In one corner, the 2014 Dodge Viper TA, with its 8.4-liter V10 pumping out 640 horsepower and 600 pound-feet of torque. In the other, the 2015 Chevrolet Corvette Z06, the supercharger on its 6.2-liter V8 more than making up for the discrepancy in displacement and cylinder count to produce 650 hp and just as much torque. But numbers don't tell the whole story, so watch the video clip to see which reaches the end of the quarter-mile first. News Source: To the Floor via YouTubeTip: James Chevrolet Dodge Videos drag race chevy corvette z06 quarter mile drag strip srt viper ta

Survey says $25k barrier is a problem for EVs

The majority of consumers are more or less priced out of the market.
Electric cars are gaining popularity with the general public, but are they still too expensive? According to a survey 1,084 consumers by Navigant Research, a consulting firm located in Boulder, CO, 71 percent want their next car to cost under $25,000, while 41 percent won't go a cent above $20K. Looks like people are even thriftier than we'd originally thought.