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Chevrolet To Oversee Restoring Sinkhole Corvettes

What Mother Earth devoured, Chevrolet plans to resurrect. The carmaker said Thursday it will oversee restoration of the classic cars swallowed by a huge sinkhole beneath the National Corvette Museum in Kentucky. General Motors Design in Warren, Mich., will manage the painstaking work to repair the eight prize vehicles, the automaker said Thursday. The cars were consumed when the earth opened up early Wednesday beneath a display area when the museum in Bowling Green, Ky., was closed. No injuries were reported. The museum was open Thursday except for the area where the sinkhole occurred. Mark Reuss, GM's head of global product development, said the damaged vehicles rank as "some of the most significant in automotive history." "There can only be one 1-millionth Corvette ever built," he said, referring to one of the damaged cars. "We want to ensure as many of the damaged cars are restored as possible so fans from around the world can enjoy them." Just how the cars will be pulled out of the ground remains to be seen, said museum executive director Wendell Strode. The local fire department estimated the hole is about 40 feet across and 25 to 30 feet deep. The hole opened beneath part of the museum's domed section. "We feel pretty confident that most of the cars can be extracted," Strode said Thursday. "And we hope and believe that with just a little bit of luck, that all eight cars can be extracted and be part of the restoration." Chevrolet spokesman Monte Doran said some of the cars look to be in good shape, while others are buried in rubble. "It will likely be several weeks until we can get the cars out and assessed," he said. The GM Design team has helped restore other historic cars, but the Corvette project looks to be its biggest, he said. "These Corvettes are part of our history, and they want them restored properly," Strode said. "We're thrilled they're doing this." The cars looked like toys as they plunged into the hole, piled in a heap amid dirt and concrete fragments. The museum owns six of the cars while two - a 1993 ZR-1 Spyder and a 2009 ZR1 Blue Devil - are on loan from General Motors. The other cars damaged were a 1962 black Corvette, a 1984 PPG Pace Car, a 1992 White 1 Millionth Corvette, a 1993 Ruby Red 40th Anniversary Corvette, a 2001 Mallett Hammer Z06 Corvette and a 2009 white 1.5 Millionth Corvette. Pictures of the sinkhole showed a collapsed section of floor with multiple cars visible inside the hole.

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.

Fingers point to dragged-out NHTSA investigation after second death by ARC airbag inflator

Safety advocates have increased criticism of the federal government's National Highway Traffic Safety Administration after an exploding airbag inflator that's been under investigation for more than six years killed a second person.  On Wednesday, NHTSA posted recall documents filed by General Motors that revealed the second death, the driver of a 2015 Chevrolet Traverse SUV with an inflator made by Tennessee company ARC blew apart, spewing shrapnel. No details were given about where and when the death occurred. NHTSA has said that ARC Automotive of Knoxville has manufactured about 8 million inflators used nationwide in vehicles made by General Motors, Fiat Chrysler (now Stellantis), Kia and Hyundai. “NHTSA should have been all over this along time ago,” said Rosemary Shahan, president of California-based Consumers for Auto Reliability and Safety. “There's just no denying that itÂ’s a (safety) defect.” NHTSA, the agency charged with with keeping America's automobiles and roads safe, began investigating ARC inflators in July of 2015 after two people were injured by flying shrapnel. The investigation became more urgent in 2016, when a Canadian woman driving an older Hyundai Elantra was killed by metal airbag fragments. Public records show only a little progress on the probe. In April, the agency posted a memo in saying it was reviewing volumes of information it received from ARC. Safety advocates such as Shahan say that the dragged-out investigation is an example of the deadly consequences that can result from an understaffed and underfunded agency. The second death should not have happened, Shahan said, and vehicles with faulty ARC inflators should have been recalled faster. The agency, Shahan said, is “grossly underfunded," but it still should have sought recalls of the ARC inflators. She said historically NHTSA has taken little action during Republican administrations but has ramped up safety efforts when Democrats control the White House. Messages were left Wednesday by the Associated Press seeking comment from NHTSA and ARC. At this time, relatively few vehicles are effected. The GM recall covers only 550 Chevy Traverse SUVs from the 2013 through 2017 model years, as well as Buick Enclave SUVs from 2008 through 2017. The automaker said in a statement that the faulty front driver's airbag inflators were either installed at the factory or in replacement airbag modules.