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Title: Revel is ending its ridesharing operation to focus on EV charging

Date: Mon, 11 Aug 2025 18:18:14 +0000
Link: https://www.engadget.com/transportation/evs/r...

Revel Transit is shutting down its rideshare operation in NYC, as reported by
Bloomberg. The company will instead focus its efforts on EV charging. It's
also seeking buyers for its fleet, including the 165 for-hire vehicle license
plates it owns.

"At the end of the day, rideshare is a very competitive market and asset-
heavy. ItΓÇÖs low margin," CEO Frank Reig said. ΓÇ£We have made the difficult
decision that the best way we can keep the EV transition moving forward is by
ending our rideshare service and focusing on building the fast-charging
infrastructure our biggest cities need to keep going electric.ΓÇ¥

Revel closing its rideshare business in NYC.
--it was great alternative to Uber focused on EVs. mostly tesla 3&Ys.
--paid salaries to their drivers. pic.twitter.com/MHsUuL0P3h

ΓÇö Steven Spencer (@sspencer_smb) August 11, 2025

The company was the first in NYC to operate an all-electric ridehailing
fleet, launching with just 50 vehicles but eventually growing to 500
vehicles. However, that's a drip in the bucket compared to rivals like Uber
and Lyft. Revel averages about 100,000 rides per month, but Uber and Lyft
complete more than 20 million trips each month.

Revel did find success with its EV chargers, after unveiling the platform
back in 2021. It operates more than 100 chargers across five stations in NYC,
along with a dozen or so more chargers in San Francisco. These stations are
primarily used by Uber and Lyft drivers. It hopes to have 400 charging stalls
by the end of next year and 2,000 by 2030 in markets like NYC, Los Angeles
and San Francisco.

ΓÇ£Uber and Lyft are electrifying fast and theyΓÇÖre providing a ton of
utilization for our chargers on a much larger scale than even two or three
years ago," Reig said.

This is just the latest pivot by Revel. The company once operated a moped
rental service, but that was shuttered last year. It also laid off drivers to
transition to a contractor-based model like Uber and Lyft.

This article originally appeared on Engadget at
https://www.engadget.com/transportation/evs/r...
operation-to-focus-on-ev-charging-181814989.html?src=rss

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