Revel Shifts from Ride-Hailing to Focus on EV Charging
▼ Summary
– Revel has shut down its NYC ride-hailing service to focus on expanding its EV charging business, which includes six stations in New York and San Francisco.
– The company announced the closure through its app and website, thanking users for four years of rideshare service and emphasizing its shift to charging infrastructure.
– CEO Frank Reig stated that ending the rideshare service allows Revel to concentrate on building fast-charging infrastructure needed for urban EV adoption.
– Revel will sell or return its fleet of Tesla and Kia vehicles, along with 165 for-hire vehicle license plates valued at $20,000-$25,000 each.
– Despite slow initial adoption, Revel’s charging network utilization rose from 21% in early 2023 to 45% in early 2025, aided by a 2024 deal with Uber to direct drivers to its chargers.
Revel has officially exited the ride-hailing market in New York City, marking a strategic shift toward expanding its electric vehicle charging infrastructure. The company, which initially gained traction with electric scooter rentals in 2019, confirmed the closure of its rideshare service through its app and website. Instead, it will double down on its fast-charging network, currently operational in New York and San Francisco, with plans for significant growth in major urban centers.
Users attempting to book a ride were greeted with a farewell message acknowledging their support over the past four years. The decision reflects Revel’s belief that prioritizing charging infrastructure will accelerate the broader adoption of electric vehicles, according to CEO Frank Reig. He emphasized that building reliable fast-charging stations is critical for cities transitioning to cleaner transportation.
The company will offload its fleet of blue Tesla and Kia vehicles, along with 165 highly valuable for-hire vehicle licenses. These permits, estimated at $20,000 to $25,000 each, represent a substantial asset as Revel redirects resources toward its charging business.
While Revel’s charging network initially struggled with low utilization, just 21% in early 2023, partnerships and growing demand have since driven that figure to 45%. A key turning point came in 2024 when Uber began directing its drivers to Revel’s stations, significantly boosting usage. With ambitions to operate more than 400 charging stalls across Los Angeles, New York, and San Francisco by 2026, the company is positioning itself as a major player in urban EV infrastructure.
The move underscores a broader industry trend where companies are reevaluating their roles in the evolving electric mobility landscape. By focusing on charging solutions, Revel aims to address one of the most persistent barriers to widespread EV adoption: accessible, high-speed charging.
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(Source: TechCrunch)
