11-08-2025
Revel to End New York Rideshare Business to Focus on EV Charging
Revel Transit Inc. plans to wind down rideshare operations after weathering stiff competition in its home city of New York, pivoting to an EV-charging business that counts Uber Technologies Inc. as a partner rather than rival.
The company is notifying customers and drivers on Monday of the move. It's seeking buyers for the 165 for-hire vehicle license plates it owns, according to co-founder and chief executive officer Frank Reig. The market selling price is likely $20,000 to $25,000 per plate, he added. His company is also looking to sell or return the signature blue Teslas and Kias it owns or leases.
