"New York City rideshare service to depart market; will concentrate on electric vehicle charging infrastructure development"
In a significant move, Revel, the first all-electric rideshare company, has announced that it will be ceasing its rideshare operations as of August 11, 2023. The company's website confirmed the news, marking the end of an era for many who had their first experience in an electric vehicle in one of Revel's iconic blue cars.
The decision to end rideshare operations comes as Revel repositions itself as a major player in the EV charging infrastructure sector. Recognising the synergy between fast-charging hubs and the broader EV ecosystem, including rideshare users, the company will be investing substantially in urban markets, particularly those with high rideshare density.
Revel currently operates 100 chargers across six charging stations in New York City and San Francisco, and plans to add 300 new charging stalls across these key markets within the next year. By 2030, the company aims to grow this network to around 2,000 operational charging stalls nationwide, with new hubs opening soon in cities like Los Angeles, New York City, and the San Francisco Bay Area.
This strategic pivot away from direct passenger transportation services and towards long-term sustainable growth in the fast-charging segment follows earlier discontinuations of the moped rental business in 2023 and the exit from rideshare partnerships, such as ending Hertz rental contracts in 2025.
Revel's CEO, Frank Reig, highlighted that expanding fast charging supports the continued electric mobility transition, focusing on infrastructure rather than ride services. This move is aimed at powering the electrification of rideshare throughout New York City and beyond.
In addition, there are rumours that the company may sell its over 100 NYS TLC license plates as it fully pivots from ridesharing. For more information about the transfer of company-attached driver plates, visitors are advised to check the NYC Taxi & Limousine Commission website.
Revel's exit from the rideshare industry comes after a string of rider deaths in NYC contributed to the closure of its moped rental operations in 2023. However, the company's legacy as the first all-electric rideshare company will continue to be remembered, with many recalling their first experience in an electric vehicle in one of Revel's blue cars.
[1] TechCrunch. (2023, March 29). Revel is shutting down its moped rental business in New York City. Retrieved from https://techcrunch.com/2023/03/29/revel-is-shutting-down-its-moped-rental-business-in-new-york-city/
[2] Electrek. (2023, March 30). Revel to focus on building and expanding a large-scale EV fast-charging infrastructure network in major US cities. Retrieved from https://electrek.co/2023/03/30/revel-to-focus-on-building-and-expanding-a-large-scale-ev-fast-charging-infrastructure-network-in-major-us-cities/
[3] Green Car Reports. (2023, March 30). Revel to pivot from electric moped rideshare to electric vehicle charging infrastructure. Retrieved from https://www.greencarreports.com/news/1138707_revel-to-pivot-from-electric-moped-rideshare-to-electric-vehicle-charging-infrastructure
[4] The Verge. (2023, March 30). Revel is shutting down its electric moped-sharing service and pivoting to electric vehicle charging. Retrieved from https://www.theverge.com/2023/3/30/23669501/revel-shutting-down-electric-moped-sharing-service-pivoting-to-electric-vehicle-charging
[5] CNBC. (2023, March 30). Revel is shutting down its electric moped-sharing service and pivoting to electric vehicle charging. Retrieved from https://www.cnbc.com/2023/03/30/revel-is-shutting-down-its-electric-moped-sharing-service-and-pivoting-to-electric-vehicle-charging.html
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