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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 Chevrolet Spark gleams in green in New York

Take one look at the 2016 Chevrolet Spark that's debuting at the 2015 New York Auto Show, and you can immediately see that the little hatchback is growing up. The previous long headlights and tall greenhouse are gone in favor of a slightly more conventional look that suits the enlarged overall size well. To address complaints about a lack of power from the current Spark's 1.2-liter engine, the latest model gets a larger 1.4-liter unit making 98 horsepower. It can be paired with a five-speed manual transmission, but for those looking to maximize fuel economy, a CVT offers an estimated 40 miles per gallon highway fuel economy. Beyond the new engine, there's an upgraded platform underneath with a longer wheelbase. The underpinnings are also more rigid, as well, to help improve handling and lower interior noise. Inside, the Spark now gets some physical controls to go along with the seven-inch MyLink infotainment system. A rearview camera is standard, which seems almost unnecessary is such compact model, and buyers can further enhance safety with tech like a Forward Collision Alert, Lane Departure Warning and Side Blind Spot Alert. Check out the gallery above to see the Spark in its nuclear green paint at the New York show before the little hatch arrives at dealers in the fourth quarter of 2015.

Rumor: 2016 Chevy Volt gets 53 miles EV range, 40% increase

While we're still waiting for the official word from GM, news is creeping around the Internet that the 2016 Chevy Volt will get a big boost in all-electric range and gas-burning efficiency. According to new rumors out today, the second-gen Volt will be able to go 53 miles on a full charge, have 106 MPGe and be able to get 42 miles per gallon on the official EPA numbers. Compared to the outgoing first-gen Volt (38 miles EV range, 98 MPGe, and 37 mpg) these are all impressive increases. The all-electric range boost of almost 40 percent is the biggest surprise, though. We knew the new Volt would get better numbers than the first-gen model, but when GM debuted the car in Detroit earlier this year, it said it suspected the Volt would get a 50-mile range, 41 mpg and 102 MPGe. We'll be keeping an eye out for official confirmation of all these new numbers. Volt drivers are already making most of their driving miles electric. The number sits at about 80 percent currently, and GM has said it expects this to climb to 90 percent in the new model. GM said in May that the 2016 Volt will start at $33,995, a bit lower than the current Volt's MSRP of $34,170 before any tax breaks. So, for less money you'll be getting much better fuel economy. What's not to like about that? Preorders are already open for interested buyers in some parts of the country. Related Video: Featured Gallery 2016 Chevy Volt View 16 Photos News Source: GM Authority, Autoguide Green Chevrolet Fuel Efficiency mpg ev range