Uber(US:UBER) 智通财经网·2025-08-11 13:42Core Viewpoint - Revel Transit Inc. has decided to terminate its ride-hailing operations and shift its strategic focus towards the electric vehicle charging sector, partnering with Uber to expand its charging network [1][2]. Group 1: Business Transition - The company will officially notify users and drivers about the termination of services this week, planning to sell its 165 ride-hailing licenses at a market price of approximately $20,000 to $25,000 each [1]. - Revel's ride-hailing business, which started with 50 electric vehicles and grew to 500, is being concluded after four years due to intense competition and low profit margins in the industry [1][2]. - The average monthly active users for Revel in the past 3-6 months were 45,000, with 670 drivers and around 100,000 monthly orders, which is significantly lower compared to Uber and Lyft [1]. Group 2: Charging Infrastructure Expansion - Revel currently operates five charging stations in New York and one in San Francisco, with plans to expand to over 400 charging points in Los Angeles, San Francisco, and New York by the end of 2024, aiming for 2,000 by 2030 [2]. - The company has shifted its focus to areas with government mandates for electric vehicle transitions, having previously shut down its electric scooter rental business [2]. - Revel's partnership with Uber has led to a significant increase in charging station usage, rising from 18% to 45% year-over-year, with a 33% usage rate when excluding its own fleet [2]. Group 3: Financial Performance and Funding - The high usage rate of charging stations has allowed them to become profitable, although the overall business has not yet generated cash flow when considering total operating costs [3]. - Revel had previously sought $200 million in funding but did not complete this round after deciding to pivot last summer; however, it secured a $60 million loan from the New York Green Bank to support its infrastructure development goals for the coming year [3].