Revel is ending its electric rideshare service in New York City, marking the end of a nearly four-year run for the company’s distinctive blue Tesla Model Y fleet. Moving forward, the company is pivoting its focus entirely toward building out fast-charging infrastructure in major U.S. cities.
“At the end of the day, rideshare is a very competitive market and asset-heavy. It’s low margin,” said Revel CEO and co-founder Frank Reig. “We have made the difficult decision that the best way we can keep the EV transition moving forward is by ending our rideshare service and focusing on building the fast-charging infrastructure our biggest cities need to keep going electric.”
Revel’s rideshare operation, which grew to 500 Teslas, averaged around 45,000 monthly active riders, 670 drivers, and roughly 100,000 monthly rides in recent months. Despite that growth, competition in NYC’s crowded rideshare market — dominated by Uber and Lyft — proved too tough to sustain the business.
The news comes as Tesla continues to roll out its own Robotaxi service. While the all-electric pioneer is reportedly in talks for a Robotaxi launch in Brooklyn, New York, it is currently limited to a pilot program in Austin, Texas, and a human safety driver-supported ride-hailing service in the San Francisco Bay Area.
Revel first received approval to launch an all-electric rideshare fleet in July 2021, initially consisting of 50 custom-painted Tesla Model Ys. When services kicked off in August of that year, the company saw over 50,000 people join its waitlist almost immediately. The service was marketed as an eco-friendly, premium alternative to traditional ridesharing, with a focus on professional drivers and a fully electric experience.
While the rideshare chapter is closing, Revel says it will continue expanding its “Superhub” fast-charging network, with new sites and cities coming soon. The company believes its biggest impact on accelerating EV adoption will come from making urban charging more accessible — especially for drivers without access to home charging.
