Revel Closes Ride-Hailing Service to Focus on Electric Vehicle Charging

• Revel is shutting down its ride-hailing service to focus on electric vehicle charging.
• The company plans to open over 400 charging stations by 2026.
• The decision to close the ride-hailing service is related to high competition in the market.

This was reported by TechCrunch, The Verge.

The company Revel has closed its ride-hailing service in New York City, transitioning to the development of a business focused on electric vehicle charging. Since its founding in 2019, when it started with electric scooter rentals, Revel has undergone several changes in strategy.

According to the announcement in the company's addendum, users received refunds for "rides with us over the last 4 years" and information that the ride-hailing service has been permanently closed. The Revel website confirmed this information and noted that the company will continue to develop the fast-charging business, opening new stations in the busiest cities.

The General Director of the company, Frank Reig, stated that the decision to close the ride-hailing service was difficult but necessary to support the transition to electric vehicles. He emphasized that the ride-hailing market is very competitive and challenging.

Revel plans to sell or return Tesla and Kia vehicles, which were part of their fleet, as well as 165 licenses for the ride-hailing service, which could cost between $20,000 and $25,000 each. The company noted that their network of charging stations increased from 21% at the beginning of 2023 to 45% at the beginning of 2025.

Revel has opened several charging stations in New York City and California and aims to launch over 400 charging locations in Los Angeles, New York City, and San Francisco by the end of 2026.

Tags: USA/Energy/Technology