Revel

Revel is installing dozens of new EV charging stalls in an effort to turn the Big Apple into an EV charging destination. But it won't be easy.

I’m trying to put it in a handful of the biggest rideshare markets in the densest cities here in the US and being the first company to actually have a scaled and fast-charging network in those markets. What else do you think needs to happen in New York City to meet the rise of EVs that are going to be coming over the next decade? Like the building being built over there, and the government office being built there, and you’re just in line with everybody else. What if you need to move a fire hydrant for the local utility to drop a transformer onto the site? Back to the core of your question: is this a rideshare company, or is this an infrastructure company? To put that amount of infrastructure in the ground, zoning laws need to match up. And there is no scaling of electric rideshare in any significant way unless you’re out there putting infrastructure in the ground that currently does not exist. If you go back to the founding of this company, it was born out of my frustration in getting around the city of New York. And the second part of that is, can you speak to how 2022 went revenue-wise and say anything about what you’re projecting for 2023? When you think about big cities in the US like New York, the EV transition is just stuck in neutral. The second piece of this is from more of a business aspect: when you’re an employee driver, you now have control. There are only a certain amount of cars that we have, and then you add tens of thousands of new users in literally a 24-hour period.