Key Facts
• Revel announced its exit from New York rideshare on August 11, 2025.
• The company will focus on electric vehicle (EV) charging infrastructure.
• Revel plans to sell 165 license plates for $20,000–$25,000 each.
• Tesla and Kia vehicles owned or leased by Revel may be sold or returned.
• CEO Frank Reig cited intense competition and low profit margins in rideshare.
• Revel started its EV-only rideshare service in New York four years ago.
• Fleet size grew from 50 to 500 vehicles but lagged behind Uber and Lyft.
• Revel operates 100 public fast chargers in New York and San Francisco.
• Plans include expanding to 400+ chargers by 2026 and 2,000 by 2030.
• Uber and Lyft drivers are primary users of Revel’s charging infrastructure.
Summary
Revel Transit is exiting New York’s competitive rideshare market to prioritize electric vehicle (EV) charging infrastructure. The company, which launched the first all-EV rideshare service in New York four years ago, struggled to compete with Uber and Lyft despite growing its fleet to 500 vehicles. Revel plans to sell 165 license plates for $20,000–$25,000 each and may sell or return its Tesla and Kia vehicles. CEO Frank Reig emphasized the challenges of low profit margins in the rideshare sector and the strategic shift to support urban electrification through fast-charging infrastructure. Revel currently operates 100 chargers in New York and San Francisco, with plans to expand to 400+ by 2026 and 2,000 by 2030. Uber and Lyft drivers are key users of Revel’s charging network, aligning with their EV adoption goals.
