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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.

2014 Chevrolet Corvette C7 Convertible offers a few more views before reveal

Over the weekend, Chevrolet released its first images of the new 2014 Corvette Stingray Convertible. Now, ahead of the droptop's official introduction tomorrow at the Geneva Motor Show, the automaker has given us a few more shots of the softop C7 showing off the car's rump albeit from a high, strategically positioned angle.
From this angle, it's hard to get a sense for how long and flat the decklid really is, but we can easily see that, like the rest of the C7's design, the new convertible's decklid and tonneau cover are far more detailed than the current car. We also get a better look at the rear haunches sans brake vents, which have apparently been moved to underneath the car in order to accommodate the top's hard cover.
As for the overall styling of the C7 convertible, with the top erected, we get some idea of what a coupe design (as opposed to the Stingray's fastback shape) would look like on this car. The C5 Corvette most recently had a coupe model that did away with the large glass hatchback, and we recently reported on a low-cost "coupe" model potentially being added to the C7's repertoire.

Official USPS Muscle Cars stamps coming to a mailbox near you

As much as our digital lives have cut down on our trips to the post office, there are still times that sending "snail mail" is necessary. With us car lovers in mind and philately in their hearts, the good folks at the United States Postal Service will introduce a new stamp design called "Muscle Cars" starting on February 22.
Designed by artist Tom Fritz, the new collection of stamps consist of five classic muscle cars: 1969 Dodge Charger Daytona, 1970 Chevrolet Chevelle SS, 1967 Shelby GT-500, 1966 Pontiac GTO and 1970 Plymouth Hemi 'Cuda. In addition to just the stamps, the USPS is also commemorating the new series with plenty of collectable memorabilia. Previous car-related stamps include 50s Sporty Cars from 2005 and 50s Fins and Chrome from 2008.