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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.

2016 Chevy Volt powertrain video teasers

If there's one thing we've learned about plug-in vehicle fans, you have a thing for seeing your cars get made. The series of videos showing BMW i3 production was strangely popular, as were the shots from inside the VW e-Golf plant. Well, with General Motors pulling the veil off of the 2016 Chevy Volt this week, it's time to take a peek at the production process for that vehicle as well. You're welcome. Up first we've got a clip from CNN Money showing a little bit about how the new Volt's new battery pack and other powertrain components are made. Those of you who are trying to read the lithium tea leaves and see if the new shape reveals that the 2016 Volt will have five seats might want to check it out. Then we've got two clips from GM itself, one showing an animation about the updated Voltec powertrain and another with some B Roll of the old Volt. Since GM doesn't want us to see the new car quite yet, we'll have to enjoy this for now. Watch below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

What we know, and think we know, about the 2016 Chevy Volt

With the next-gen Chevy Volt due to make an appearance at the Detroit Auto Show early next year, bits and pieces about the new car are making their way into the press. Perhaps most importantly, the new Volt is going to have better "fuel economy and efficiency," according to GM executive vice president Mark Reuss. The current Volt gets 98 MPGe and 37 miles per gallon on premium fuel. It also has a 38-mile electric-only range. We don't know how GM will improve the efficiency or to what degree, but the logical options include making the car lighter, giving it better aerodynamics and/or improving the powertrain. To that end, one of the big things we don't know for sure includes information on the new gas-powered engine. Forbes says it will be a downsized 1.0-liter, three-cylinder mill instead of the 1.4-liter, four-cylinder used in the current model, which could certainly help the car be more efficient. The new Volt is also going to have more technology, which shouldn't surprise anyone. GM is now openly talking about how it will change the way it markets the Volt, shifting away from the mass-market mentality to focus on the regions where the car is already popular. "There's a Northeast and West Coast market for Volt, and there's nothing wrong with that," Chevy chief marketing officer Tim Mahoney told Forbes. There are rumors that the new Volt will have seating for five by adding a seat in the back. This is something a lot of current Volt owners would love, but we've heard nothing official hinting that this would be the case. We expect the battery to be the new 17.1-kWh version, or maybe even have a capacity increase, so GM would have to seriously repackage the pack to eliminate the ridge that runs from between the front seats and then back to the rear two seats. If you've heard anything official, do let us know.