Revel Shifts Focus from Mopeds to Cars, Exiting NYC and San Francisco
Electric moped sharing company Revel is shutting down its two-wheeler rentals in New York City and San Francisco to focus on its EV rideshare business, which includes Tesla and Kia models. The company's moped rides had declined by 30% since last summer, and it had already pulled out of Washington, DC, and Miami. Revel will lay off around 67 staff members as it closes its moped rental side. The company started in 2018 with 68 mopeds and has since expanded its ridehailing business to 500 cars. Revel is now focusing on its EV automobile ambitions, including the operation of fast-charging stations in New York.