Shutting down of New York rideshare operations by Revel for a focus on electric vehicle charging station expansion
Revel Shifts Focus to Electric Vehicle Charging Infrastructure
After four years of operating a rideshare service in New York City, Revel is making a significant pivot. The company, which initially started as an electric moped rental service in 2018, has announced that it will be exiting the rideshare business and focusing exclusively on expanding its public fast-charging network for electric vehicles (EVs).
Revel currently operates 100 chargers across six sites, with five located in New York City and one in San Francisco. By the end of next year, the company aims to grow this network, adding approximately 300 new stalls in New York City and the Bay Area. The expansion doesn't stop there, as Revel also plans to open a fast-charging hub in Los Angeles next year, with the long-term target of reaching roughly 2,000 stalls in major cities like New York, Los Angeles, and San Francisco by 2030.
This shift in focus is driven by increased utilization rates of Revel’s chargers, which have risen from 21% in early 2023 to 45% in early 2025. The company's strategic decision to support the growing urban EV market better is evident in its focus on large-scale charging hubs tailored for heavy use, especially in areas with high rideshare activity and increasing EV ownership.
Revel is also collaborating with rideshare companies like Uber to enhance charger utilization and accessibility. This partnership, which saw a deal struck in 2024, has been instrumental in boosting the usage of Revel’s chargers, with Uber drivers increasingly using them to support their electrifying fleets.
The company's website now carries a message stating that the rideshare service has ended. Over the past several months, Revel's rideshare service averaged about 45,000 monthly active riders, 670 drivers, and 100,000 rides. Revel is seeking buyers for its 165 for-hire vehicle license plates.
The decision to end the rideshare business was made due to stiff competition and challenging economics in the ride-hailing industry. Revel's co-founder and CEO, Frank Reig, stated that the company's focus in its next chapter is on expanding its public fast-charging network.
In 2021, Revel expanded into ride-hailing with a fleet of electric Teslas and Kias. However, with the rise of EV adoption in urban areas where home charging is limited, Revel sees a greater opportunity in providing comprehensive charging solutions for the growing electric vehicle market.
As Uber and Lyft continue to dominate the rideshare market, with Uber and Lyft drivers completing nearly 20 million trips in New York City alone in June, Revel's decision to focus on EV charging infrastructure could not come at a better time. With its aggressive growth plans, Revel is set to play a significant role in supporting the urban EV revolution. The company will continue to grow its Fast Charging business with more sites and cities opening soon.
- In light of the increased utilization rates of their chargers and the growing urban EV market, Revel is partnering with companies like Uber to expand its public fast-charging network for electric vehicles (EVs) in major cities, aiming to reach around 2,000 stalls by 2030.
- Recognizing the potential of the environmental-science sector and the finance opportunities within the technology industry, Revel is exiting the rideshare business and focusing on growing its charging infrastructure, contributing to the environmental-friendliness of the transportation industry.
- With the rideshare service averaging about 45,000 monthly active riders, 670 drivers, and 100,000 rides, and stiff competition in the industry, Revel is shifting its focus to the development of the electric vehicle charging industry, leveraging their charging expertise to support the urban EV revolution.
