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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.

Six-week production shutdown planned for 2016 Chevy Volt

It's no surprise that GM is winding down production of the first-gen Chevy Volt as it prepares to start building the second-gen for a launch in the second half of this year, but for now, things are proceeding as planned, according to Chevrolet spokesperson Michelle Malcho. Malcho told AutoblogGreen that GM "is still making first generation Volt" and that there has been no announcement about when that will change. The only details she would divulge is that, "It will be this summer." "Halting Chevrolet Volt production in anticipation of the all-new 2016 model year is a smart move for GM," Akshay Anand, an analyst at Kelley Blue Book's KBB.com, said in a statement. "[The move] allows for less inventory and incentives on the outgoing model. Hybrid and alternative fuel vehicle sales have been declining for some time now, with gas prices well below the summer prices of 2014." Volt production will cease in the weeks before the traditional two-week auto plant shutdown over the July 4 holiday. A high inventory of Volts is a factor in the production cuts, but not the only one, Malcho said. The plant construction, engineering changes and pre-production plans for the new Volt and CT6 all were part of the decision, she said. Nationwide, there is about a 200-day supply of Volts on dealer lots (roughly 100 days in California, the car's biggest market), according to the Detroit Free Press, which says there will be a six-week retooling period (twice as long as normal, but other sources say the shutdown will be four weeks long) at GM's Hamtramck plant this summer to get ready for the second-gen model. The 2016 Volt will get an increase in all-electric range to 50 miles and will then get 41 miles per gallon when the battery runs out. It also has a fifth seat that straddles the battery tunnel and a larger li-ion battery. Related Video: The AP contributed to this report. Featured Gallery 2016 Chevy Volt View 16 Photos News Source: GM, Detroit Free Press Green Plants/Manufacturing Chevrolet Electric Hybrid

Basic configurator for 2021 Chevy Colorado and GMC Canyon slips online

TFLnow discovered basic configurators for the 2021 Chevrolet Colorado and GMC Canyon are already online at GM's site for employee discounts. These aren't the fully-featured whiz-bang configurators that will show on the retail websites soon, but they include a bunch of the relevant info a shopper would be looking for. After trim changes detailed earlier this year, the 2021 Colorado offers the most choice, even with the two-door base model gone. Cutting the entry-level Colorado also means the entry-level price has gone up by $3,900; the 2020 Colorado could be had for $22,495, but the 2021 model starts at $26,395 after the $1,195 destination charge. That gets you the extended cab with a standard bed in two-wheel drive. The 2WD crew cab with a short bed starts at $28,295, and the 2WD crew cab with a standard bed starts at $30,595. At the top end, the ZR2 model runs $44,395, which is $200 more than the 2020 version. The color palette isn't complete, but the options page shows a number of choices for packages. The Redline Special Edition Package goes up $10 to $2,690, the Tonneau and Step Package increase $100 to $1,195, a new Chrome Package puts shiny stuff in places like the door handles and steps for $300, while the Black Bowtie Emblem Package drops $80 to $140. The one-inch front leveling kit, which was thought to cost $150 based on early order information GM Authority had seen, is here listed for $450 and available on the Colorado but not the Canyon.  The Canyon makes matters a tad simpler by having many options locked in depending on which one starts with — 2WD Elevation Standard starting at $27,595, 2WD Elevation for $31,195, 4WD AT4 with a cloth interior for $39,395 or AT4 with leather for $41,195, the least expensive Denali starting at $42,095 for a crew cab short box with 2WD. The Elevation includes items like the Convenience Package that are options on the base model, and also offers a $1,400 High Elevation Package conferring heated and power black leather seats, plus a heated steering wheel, that can't be optioned on the Elevation Standard. The pinnacle is the crew cab with a standard bed in Denali 4WD trim for $45,895. Colors and many of the final options and accessories, such as the AT4 Off-Road Performance Edition Package we've heard about, are also missing here, but there's heaps to play around with to get an idea of what you'll be in for if you're considering a 2021 Canyon. Related Video: