News Summary
Revel Transit Inc. is discontinuing its rideshare services in New York City to pivot towards electric vehicle charging operations, amid competition challenges. The company is seeking buyers for its fleet of vehicle licenses and electric vehicles. This shift includes a partnership with Uber to advance EV infrastructure, as the Brooklyn Navy Yard Development Corporation calls for proposals to enhance charging stations. Revel’s transition highlights a broader commitment to sustainable transportation solutions in NYC, as the need for effective EV charging infrastructure continues to grow.
New York—Revel Transit Inc. is set to discontinue its rideshare services in New York City as part of a strategic shift towards electric vehicle (EV) charging operations. This change reflects the challenges faced by the company amid intense competition in the rideshare market. Starting Monday, the company has begun notifying customers and drivers about the transition.
In a move to facilitate this shift, Revel is actively seeking buyers for its fleet of 165 for-hire vehicle licenses, valued between $20,000 and $25,000 each. Additionally, the company is looking to sell or return its electric vehicles, primarily blue Teslas and Kias. This pivot is supported by a strategic partnership with Uber Technologies Inc., aiming to accelerate the growth of EV infrastructure in the city.
The Brooklyn Navy Yard Development Corporation (BNYDC) has also announced a Request for Proposals (RFP) for partners who can assist in the installation, maintenance, and operation of EV charging stations. This initiative is part of a broader effort to enhance sustainable transportation options for both businesses and the public, aligning with New York City’s commitment to environmental sustainability.
As the demand for EV charging infrastructure continues to rise, the BNYDC is leveraging city-owned land to develop solutions to this challenge. The Brooklyn Navy Yard is home to over 550 businesses and employs approximately 13,000 people, making it a critical hub for initiatives aimed at mitigating climate change.
BNYDC president and CEO Lindsay Greene reiterated the organization’s commitment to supporting the transition to cleaner mobility options for small business tenants and the surrounding community. Proposals for the EV charging initiative must be submitted by August 14, 2025, and should include a comprehensive organizational overview and implementation plan.
Alongside Revel’s transition, other efforts are underway to improve NYC’s EV charging infrastructure. The Brooklyn-based startup It’s Electric is particularly notable for its initiative to install curbside chargers and compensate property owners for the electricity supplied to charge EVs. The startup aims to increase the number of EV chargers in New York City from the current 1,400 to 10,000 by the year 2030.
Customers typically pay around $10 per charging session, with the majority of these fees benefiting the location providers. Homeowners who host EV chargers can potentially earn about $3,500 annually from sharing their electricity, creating an additional revenue stream while contributing to the city’s growing EV infrastructure.
It’s Electric primarily focuses on Level 2 chargers, which can fully charge a vehicle in about 4 to 10 hours. The startup has gained significant traction, securing $11.8 million in funding from prominent venture capital firms, including Brooklyn Bridge Ventures and Uber. The co-founders of the startup underscore the critical necessity of establishing robust EV charging infrastructure, likening its importance to the historical development of railroads.
As the charging industry is projected to reach a market value of $150 billion by 2030, the need for investment in EV infrastructure has never been greater. The costs associated with building and installing chargers can total several thousand dollars, presenting a long-term investment opportunity for stakeholders in the EV market.
Currently, It’s Electric has established charging stations in areas such as Brooklyn and Detroit, with ambitions to expand its services to seven more cities, including Boston and Los Angeles. Additionally, the collaboration with various companies, including Lucid Group, aims to strengthen domestic critical mineral supply chains necessary for EV production.
In summary, Revel Transit Inc.’s transition from ridesharing to EV charging operations highlights a significant directional change for the company amid a challenging competitive landscape. Coupling this with the broader push for enhanced EV infrastructure in New York City reflects a concerted effort to embrace sustainable transportation solutions.
Deeper Dive: News & Info About This Topic
- The EV Report: Brooklyn Navy Yard Seeks EV Charging Partners
- Environmental Leader: Brooklyn Navy Yard Seeks EV Partners for Charging Expansion
- New York Post: Startup It’s Electric is Changing the Way NYC Charges EVs
- Sustainability Magazine: It’s Electric Transforms Urban EV Charging in New York
- Free Press: Electric Vehicles Get New Charging Option in Detroit
- Wikipedia: Electric Vehicle
- Google Search: EV charging infrastructure
- Google Scholar: Electric vehicles infrastructure
- Encyclopedia Britannica: Electric vehicles
- Google News: Electric vehicle charging
Author: STAFF HERE NEW YORK WRITER
NEW YORK CITY STAFF WRITER The NEW YORK CITY STAFF WRITER represents the experienced team at HERENewYorkCity.com, your go-to source for actionable local news and information in New York City, the five boroughs, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as New York Fashion Week, Macy's Thanksgiving Day Parade, and Tribeca Film Festival. Our coverage extends to key organizations like the Greater New York Chamber of Commerce and United Way of New York City, plus leading businesses in finance and media that power the local economy such as JPMorgan Chase, Goldman Sachs, and Bloomberg. As part of the broader HERE network, including HEREBuffalo.com, we provide comprehensive, credible insights into New York's dynamic landscape.
