Revel has shut down its ride-hailing service in New York City, marking another shift for the company that initially launched in 2019 with electric scooter rentals. Moving forward, Revel will focus on expanding its electric vehicle charging business, which currently operates five stations in New York and one in San Francisco.
A check of Revel’s app on Monday revealed a message thanking users for riding with the company over the past four years and announcing the permanent closure of its rideshare service. The company’s website reiterated this, stating that Revel will now concentrate on growing its fast-charging network, with plans to open more sites in additional cities soon.
Frank Reig, Revel’s co-founder and CEO, explained the decision in a statement, saying the company believes the best way to support the transition to electric vehicles is by ending its rideshare operations and focusing on building essential charging infrastructure.
Revel will sell or return its fleet of bright-blue Tesla and Kia vehicles. Additionally, the company plans to sell 165 for-hire vehicle license plates, which could fetch between $20,000 and $25,000 each.
The company first introduced its charging stations in 2021, around the same time it launched its ride-hailing fleet. However, early adoption of its charging network was slow. By early 2023, total utilization stood at just 21%, with 19% of that coming from Revel’s own fleet. By early 2025, utilization had risen to 45%, with only 12% attributed to Revel’s vehicles.
A significant boost came in 2024 when Uber partnered with Revel to direct its drivers to the company’s charging stations. Looking ahead, Revel aims to have over 400 charging stalls operational in Los Angeles, New York, and San Francisco by the end of 2026.
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