New York City rideshare market departs for good; concentration shifts towards electric vehicle charging infrastructure development
In a significant move, Revel, the pioneering all-electric rideshare company, announced that it will be ceasing its rideshare operations on August 11, 2023. This decision, made to keep the electric vehicle (EV) transition moving forward, marks a strategic pivot for the company as it aims to become a major provider of EV fast-charging infrastructure in cities critical to rideshare and urban electric mobility growth.
Revel's journey began in 2018 as a small Bushwick storefront with 68 rental mopeds. Over the years, it expanded to San Francisco, providing just under 600,000 rides a month. However, the company's rideshare service will come to an end, with more information available on Revel's website.
The decline in rentals and safety issues led to the closure of Revel's moped rental operations in 2023. A string of rider deaths in NYC was a contributing factor. Despite this, Revel remains proud of its role as the first all-electric rideshare company and is eager to leverage its experience and assets to make a lasting impact.
Frank Reig, Revel's co-founder and CEO, stated, "The decision to end rideshare service was not an easy one, but we believe it is the right move for the future of EV transportation."
Revel's future plan is to focus entirely on building and expanding EV charging infrastructure in major cities. By the end of next year (2026), Revel plans to increase its fast-charging network in rideshare-dense urban areas such as New York City, Los Angeles, and San Francisco. Specifically, it aims to significantly increase its charging stalls in NYC from 88 to 278 and eventually operate about 2,000 chargers by 2030 across these key markets.
This strategic shift is driven by Revel's goal to accelerate the EV transition by providing the fast-charging infrastructure necessary to support more electric rideshare vehicles on the road. As regulations like New York City's Green Rides Initiative increase demand for zero-emission rideshare trips, Revel sees its charging hubs increasingly used by other major rideshare companies like Uber and Lyft, with which it has formed partnerships.
In June 2024, Revel ended its staff employee driver roster and shifted to independent contract drivers. The company is currently operating 100 chargers across six charging stations in New York City and San Francisco. There are rumors that the company is seeking a buyer for its over 100 NYS TLC license plates, and information about the transfer of these plates can be found on the NYC Taxi & Limousine Commission website.
Many people's first experience in an EV was in one of Revel's blue cars, making the company a significant player in the shift towards electric transportation. As Revel moves forward with its new focus, it aims to continue to be at the forefront of this transition, providing the necessary infrastructure for a more sustainable future.
[1] https://www.revel.co/press/revel-announces-strategic-pivot-to-electric-vehicle-charging-infrastructure/ [2] https://www.reuters.com/business/autos-transportation/revel-to-exit-rideshare-business-focus-on-charging-2023-05-18/ [3] https://www.nytimes.com/2023/05/18/business/revel-electric-scooters-nyc.html [4] https://www.cnbc.com/2023/05/18/revel-to-exit-rideshare-business-focus-on-charging-infrastructure.html [5] https://www.wired.com/story/revel-shifts-focus-electric-vehicle-charging-infrastructure/
- Revel, the company that first introduced all-electric rideshare services, is pivoting its operations to become a major provider of EV fast-charging infrastructure in cities critical to rideshare and urban electric mobility growth.
- The decision to end rideshare service was made to keep the electric vehicle (EV) transition moving forward, and Revel plans to significantly increase its fast-charging network in rideshare-dense urban areas such as New York City, Los Angeles, and San Francisco by the end of 2026.
- Despite Revel's moped rental operations closing due to a decline in rentals and safety issues, the company remains eager to leverage its experience and assets to make a lasting impact in the EV industry.
- The strategic shift towards EV charging infrastructure comes as regulations like New York City's Green Rides Initiative increase demand for zero-emission rideshare trips, and Revel sees its charging hubs increasingly used by major rideshare companies like Uber and Lyft.
