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Revel is leaving the ride-hailing business behind and going full-speed ahead into electric vehicle charging, including powering cars that drive for Uber and Lyft.
The company said Monday that it is ending its ride-hailing service in New York City. Revel provided the option through a fleet of all-electric Tesla vehicles.
“After 4 years and countless electric rides, we have made the difficult decision to permanently close our rideshare service today,” the company said in an email sent to customers on Monday and viewed by Business Insider.
A Revel spokesperson confirmed the company’s plans to end its ride-hailing service.
The company said it is staying in the electric vehicle business, though: Revel plans to add charging stations in Los Angeles, New York, and San Francisco, the email to customers said. The startup struck a partnership last year with Uber to expand EV charging stations in New York.
Revel has 100 charging stations between New York and San Francisco, which are mostly used by electric vehicles that complete rides for Lyft and Uber, a Revel spokesperson told Business Insider. The company plans to have 2,000 stations online by 2030, the spokesperson said.
“If you’ve got an EV, we hope you’ll charge up with us,” the email to customers reads.
A similar message appeared on Revel’s website on Monday.
Revel
“Revel cars have gone from being some of the only EVs on the road to being joined by thousands,” Revel cofounder and CEO Frank Reig said. He said the company is “focusing on building the fast charging infrastructure our biggest cities need to keep going electric.”
Bloomberg earlier reported on Revel’s plans to end its rideshare business.
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Revel launched its ride-hailing service in New York City in 2021. Back then, the company offered rides using a fleet of Tesla Model Ys and drivers who were employees, not independent contractors, like Lyft and Uber use. By 2023, the service had 500 cars, the company spokesperson said.
Last year, Revel laid off its employee drivers and switched to a gig-work model. The service had about 1,000 drivers before it made the change, Bloomberg reported at the time.
Revel also previously offered moped rentals in New York City but ended that service after a pair of fatal accidents involving the company’s vehicles.
Do you have a story to share about ride-hailing or the gig economy? Contact this reporter at abitter@businessinsider.com or 808-854-4501.
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