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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.

Autoblog Podcast #380

Episode #380 of the Autoblog podcast is here, and this week, Dan Roth, Chris Paukert and Seyth Miersma talk about the Fiat-Chrysler five-year plan, the seeming demise of the Nissan Cube, and proposed legislation to require speed limiters with a 68-mph maximum on America's tractor trailers. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. Check out the new rundown below with times for topics, and you can follow along down below with our Q&A. Thanks for listening! Autoblog Podcast #380: Topics: Fiat-Chrysler five-year plan Nissan Cube on the way out? Big rig speed limiters coming? In the Autoblog Garage: 2015 Mercedes-Benz S63 AMG 2014 Chevrolet Sonic RS Sedan 2014 Honda Odyssey Touring Elite Hosts: Dan Roth, Chris Paukert, Seyth Miersma Runtime: 01:44:17 Rundown: Intro and Garage - 00:00 Fiat Chrysler Plan - 29:40 Nissan Cube - 01:07:33 Semi Speed Limiters - 01:17:33 Q&A - 01:27:35 Get the podcast: [UStream] Listen live on Mondays at 10 PM Eastern at UStream [iTunes] Subscribe to the Autoblog Podcast in iTunes [RSS] Add the Autoblog Podcast feed to your RSS aggregator [MP3] Download the MP3 directly Feedback: Email: Podcast at Autoblog dot com Review the show in iTunes Auto News Earnings/Financials Plants/Manufacturing Podcasts Rumormill Chevrolet Chrysler Dodge Fiat Jeep Nissan nissan cube speed limiters

Recharge Wrap-up: GM, LG Chevy Bolt collaboration, Honda Energy Star plants

Green Car Reports details the relationship between GM and LG in the development and production of the Chevy Bolt. The unique relationship between the two companies began in 2008, and now sees LG producing a multitude of systems for the Bolt, many of which were designed by or with GM. LG's involvement in the Bolt has gone so deep as "defining what will this vehicle be, everything from how we are going to package it, what size it should be, what kind of performance it should have," according to Pam Fletcher, GM's Executive chief engineer for electrified vehicles. Forgoing the traditional automotive relationship for a more collaborative one doesn't just save money, but it also gives GM access to LG's suite of technologies and manufacturing capabilities. Read more at Green Car Congress. The EPA has awarded three Honda factories with Energy Star certification. The automaker's assembly plants in Marysville and East Liberty, Ohio have now earned Energy Star certification ten consecutive years. The Marysville plant added LED lighting, hydrogen-powered tow motors and forklifts, high efficiency HVAC and direct-fired water boilers. The East Liberty facility added new LED lighting and replaced a large water heater with a high-efficiency one. Honda's newest US plant, Honda Manufacturing of Indiana, installed LED lighting and used energy efficient features in its recent expansion. Honda also cites a culture of energy-mindedness – for every associate – for its success. "When everyone involved considers energy efficiency and how they can help the environment, results improve," says Karen Heyob, Honda's sustainability boss in North America. Read more from Honda. The student-led Associated Students of the University of Montana (ASUM) Transportation has ordered two Proterra electric buses. The 40-foot Catalyst Fast Charge buses will serve the campus, and will recharge with a semi-autonomous fast charger. "As part of our ongoing effort to innovate service, align with student advocacy and reduce our carbon footprint, we take great pride in our decision to go electric," says ASUM Office of Transportation Director Jordan Hess. "We hope this encourages – and challenges – other universities to seriously consider the economic and environmental benefits of zero-emission buses." Read more in the press release below. First Student-led Transit Agency in the U.S.