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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.

GM seatbelt recall affects over 1m Silverados and Sierras

The Basics: General Motors will recall 895,232 examples of the 2014-2015 Chevrolet Silverado and GMC Sierra 1500 pickups in the US. The campaign will also affect the trucks in markets worldwide, and the total number the company will recall is 1,037,982. The Problem: A steel cable connects the seatbelt to the vehicle, but over time repeated bending can cause the part to fatigue and separate. Injuries/Deaths: None reported. The Fix: Dealers will enlarge the side shield opening and install a pusher bracket on the tensioner. Technicians will also replace the entire tensioner assembly if necessary. If You Own One: GM will contact owners about the recall. The company hasn't said when those notifications would begin. More Information: There are still about 3,000 new examples of these older pickups at dealerships. Until mechanics fix the problem, these vehicles are subject to a stop-sale. Similar problems have affected the General's vehicles in the past. In 2015, the company recalled over 400,000 units of the 2011-2012 Chevrolet Malibu for fatiguing cables. It also hit over a million Lambda platform crossovers in 2014. GM Recalling Certain 2014-15 Pickups to Repair Seat Belts DETROIT – GM is voluntarily recalling 895,232 model year 2014-15 Chevrolet Silverado and GMC Sierra 1500 pickups in the United States because the flexible steel cable that connects the seat belt to the vehicle can fatigue and separate over time as a result of the driver repeatedly bending the cable when entering the seat. This issue was discovered through warranty data, and there have been no reports of crashes, injuries or fatalities related to this issue. For trucks in the field, dealers will enlarge the side shield opening, install a pusher bracket on the tensioner, and if necessary, replace the tensioner assembly. The recall in the United States includes a stop-sale of approximately 3,000 new 2014 and 2015 model year pickups still on dealer lots. Dealers will repair the vehicles prior to delivering them to customers. Customers will be notified by General Motors. They also can look up their vehicle identification number (VIN) at either https://vinrcl.safercar.gov/vin/ website or at https://my.gm.com/web/portal/ownercenter to see if their vehicle is part of the recall. GM also will voluntarily recall and repair these models in other countries where they are sold, including Canada, Mexico, and several countries in Latin America and the Middle East.

2015 Chevy Colorado takes Motor Trend Truck of the Year calipers [w/videos]

The final winner of Motor Trend's prestigious Golden Calipers has been named, with the 2015 Chevrolet Colorado taking the title of 2015 Truck of the Year, likely shocking those who thought Ford's all-aluminum, next-generation F-150 would take the crown. But win the Colorado did, beating not only the new Ford, but two other brutish Blue Ovals in the F-450 and Transit. The midsize pickup also bested its brethren from General Motors, beating the heavy-duty Chevy Silverado 3500, GMC Sierra Denali 2500 and the GMC Canyon, the Colorado's fraternal twin. After an unprecedented two-year stint with the Golden Calipers, Ram sat this year's awards out. Most impressive about the Colorado's victory isn't that it simply beat the US market's other trucks, it did so with a unanimous vote. Praise from MT's editors focused on the trucklet's price, spacious interior, fit and finish and performance. Former Autoblog staffer Jonny Lieberman called the Colorado's steering the best he'd "ever experienced on any truck, full stop," in MT's awards article. "After days of testing, hundreds of miles on the road, and our most rigorous truck testing program to date, our editors unanimously selected the Chevy Colorado as our 2015 Truck of the Year," said MT boss Edward Loh. "Colorado is a smart, capable, and refreshingly honest truck that makes a strong value and efficiency statement. It's perfectly sized and suited for the needs of many of today's truck users." The Colorado joins the 2015 Volkswagen Golf and 2015 Honda CR-V among Motor Trend 2015 award winners. Scroll down for video commentary from General Motors CEO Mary Barra, Loh and a clip of the Golden Calipers being handed over. Also, check out GM's full press release on its big win. The video meant to be presented here is no longer available. Sorry for the inconvenience. The video meant to be presented here is no longer available. Sorry for the inconvenience. The video meant to be presented here is no longer available. Sorry for the inconvenience. MOTOR TREND Names Chevrolet Colorado 2015 Truck of the Year Midsize pickup outclasses competition in design, engineering, efficiency, safety and more 2014-12-03 EL SEGUNDO, Calif. – After its most comprehensive truck evaluation program in history, MOTOR TREND has selected the Chevy Colorado as its 2015 Truck of the Year®. MOTOR TREND's Truck of the Year program is only open to all-new or significantly updated trucks and vans for the upcoming model year.