Archive — US — techcrunch
Revel shuts down its ride-hail business to focus on EV charging
Revel has ceased its ride-hailing service in NYC to concentrate on expanding its EV charging business, which operates charging stations in multiple cities. This pivot is motivated by the company's goal to support the electric vehicle transition. Revel aims to increase its charging stall count to over 400 by 2026 after experiencing increasing utilization rates.
Key points
- Revel closes its ride-hailing service after 4 years in NYC.
- The company will focus on its EV charging infrastructure.
- Current charging network utilization grew from 21% to 45% between early 2023 and early 2025.
- Uber's partnership helped boost Revel’s charging business utilization.
- Revel plans to expand to over 400 charging stalls by 2026.
Why it matters
- The increase in EV adoption and the need for charging infrastructure is a growing trend in 2025.
- Revel's strategic pivot aligns with the global shift towards greener transportation solutions.
- The company's challenges mirror broader trends in the ride-sharing industry as competition intensifies.
Revel's shift from ride-hailing to charging infrastructure reflects a strategic response to the evolving electric vehicle market and growing demand for EV support services.