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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.

German police Corvette promotes safe aftermarket tuning

The German organization Tune It! Safe! promotes safe, legal vehicle tuning in the country, and it probably doesn't have to worry about anyone breaking the law when this Polizei-themed Chevrolet Corvette is on the scene. The Vette is on display at the Essen Motor Show and is the group's latest police-wrapped tuner car, following models like the Brabus Rocket, Mercedes-Benz CLS, and AC Schnitzer-tuned BMW 123d in years past. Tikt Performance did the tuning this time, and the German company added a full carbon-fiber body kit for the Vette, including a front lip, side sills, rear spoiler, and relatively understated wheel flares. It also installed forged wheels that measure 19-inches in front and 20-inches in back and wrapped them with Hankook Ventus S1 Evo tires. To really let the coupe look the part of a proper Polizei car, the tuners included police lights from Hella and the appropriate blue-and-white wrap. Tikt left the 6.2-liter V8 alone to produce 460 horsepower and 465 pound-feet, and the power routes through a seven-speed manual. Even with the stock performance, this police-themed 'Vette would still look fantastic blasting down the Autobahn with the lights flashing. World premiere at the Essen Motor Show: initiative for safe tuning starts the new campaign year with TIKT Performance Corvette A powerful look for a powerful campaign: TUNE IT! SAFE! presents innovative design and maximum precision Innovative design, maximum precision and unique performance – with an enhanced Corvette, TUNE IT! SAFE! shows that attractive, creative tuning in no way has to conflict with legal requirements. In the new campaign year, the seventh generation of a sports car icon stands as a symbol and shining example of safe automobile tuning and 100 per cent driving fun. The campaign car of the initiative for safe tuning, sponsored by the Federal Ministry of Transport, the Association of Automobile Tuners (VDAT) as well as numerous other organisations and institutions, sees its premiere at the Essen Motor Show (Hall 10, Stand F104). TUNE IT! SAFE! also continues its partnership with premium tyre manufacturer Hankook. Tuning specialist TIKT Performance based in Upper Bavaria is responsible for the innovative conversion of the new TUNE IT! SAFE! police car.

GM delays 3.0-liter Duramax diesel in Silverado and Sierra pickups

Stricter testing protocols around the world are making it harder for automakers to predict launch timelines. GM is the latest to get caught in emissions nettles, the Detroit carmaker forced to delay the launch of its new Duramax 3.0-liter inline-six diesel for the Chevrolet Silverado 1500 and GMC Sierra 1500. That's what company reps told dealers in a memo seen by Automotive News this week. Dealers and buyers had been promised the Flint, Mich.-built oil-burner in early 2019, but AN wrote that the EPA certification hiccup has turned into a "slight delay." A GM spokesman told Motor1, "[We] did not attribute [the delay] to a single entity, as the truth is this is a collaborative effort between GM and several government entities. We will make the 2020MY Duramax available for dealers orders soon, and expect to deliver the first trucks to customers soon after emissions testing is complete." We know the new 3.0-liter Duramax diesel has 277 horsepower and 460 pound-feet of torque, outdoing Ford's 3.0-liter PowerStroke diesel by 27 hp and 20 lb-ft. But without final EPA paperwork, GM can't release the numbers that will show how the two engines stack up when considering fuel economy and tow ratings. The certification process has been sticky for a few other makers of late, especially since the Volkswagen Group situation in 2015. BMW had to delay the launch of four diesel models in 2016 over EPA testing. The new Ram 1500 dribbled out in a trickle last year for reasons thought to deal with EPA testing, coming as it did a year after the EPA investigated Ram's EcoDiesel engines in 2017 and 2018. More recently, WLTP testing in Europe caught out just about every automaker over there. Since we're almost halfway through 2019, the delay until the 2020 model year is only a few months. Still, GM told dealers to cancel any orders for the engine for this model year. Dealers will need to resubmit the orders once opening begins, but GM hasn't said when production will begin other than "soon." The company said that it will offer 2020-model-year replacement vehicles to customers and dealers. If prices hold into the next model year, the 2020 Silverado 1500 and Sierra 1500 with the inline-six diesel will come at a $3,890 premium over the 2.7-liter turbo four-cylinder, and a $2,495 premium over the 5.3-liter V8.