Is Revel's choice to depart from the ride-hailing industry indicative of a strategic business maneuver or a perceived vulnerability?
Revel Shifts Focus to Expand EV Charging Infrastructure
Ride-sharing company Revel has announced plans to significantly expand its fast-charging infrastructure in key urban areas, with a goal of reaching up to 2,000 electric vehicle (EV) charging stalls nationwide by 2030. This expansion will primarily target urban markets such as New York City, Los Angeles, San Francisco, and the Bay Area.
The company, which has exited the ride-hailing business, is now fully dedicated to scaling public fast-charging networks. Revel aims to increase charging stalls in New York City alone from around 88 to 278 by the end of next year, and will open a fast-charging hub in Los Angeles next year as part of this growth.
Revel's strategy includes deploying grid-optimized technologies such as SmartKit Demand Response to make its charging hubs flexible grid assets that help reduce peak electricity loads and generate revenue from utility programs. This focus on sustainability and operational viability is expected to increase the efficiency and reliability of the infrastructure.
The company has already partnered with ride-hailing firms like Uber, and has seen an increasing number of Uber and Lyft drivers using its charging hubs. This partnership is expected to continue as Revel focuses on serving urban EV drivers effectively.
The Green Rides Initiative, a mandate that requires 5% of rideshare trips to be conducted by zero-emission or wheelchair-accessible vehicles, was introduced in New York City in 2024. Since its implementation, the share of Uber and Lyft trips conducted by EVs has significantly increased. Revel's decision to end its rideshare service is aimed at further supporting this initiative and the wider EV transition.
The utilization rate of Revel's charging network increased from 21% in early 2023 to 45% in early 2025. However, only 12% of the increased utilization rate in 2025 was from Revel's fleet. This growth is a testament to the growing demand for EV charging infrastructure in urban areas.
Revel provided approximately 80,000 rides in June in New York City, and plans to increase this number significantly as it expands its charging network. The company's COO, Paul Suhey, explained that rideshare and EV charging were complementary businesses for Revel.
Frank Reig, Revel's co-founder and CEO, stated that the best way to keep the EV transition moving forward is by ending Revel's rideshare service and focusing on building fast-charging infrastructure. The company's retirement of its electric scooters in 2023 was a step in this direction.
The focus on expanding its network of EV charging stations is a clear indication of Revel's commitment to supporting the growth of the EV market in urban areas. With its ambitious plans, Revel is set to play a significant role in the transition towards a more sustainable urban transportation landscape.
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