Tesla's Loss, Revel's Gain: Ride-Hailing Company Eyes Abandoned Supercharger Sites In New York

Ride-hailing company Revel is eyeing the abandoned Supercharger sites of Tesla Inc. TSLA in New York to expand its own charging station network.

What Happened: According to Teslarati, Revel is negotiating to take over four Supercharger sites that Tesla left behind following the disbandment of its Supercharging team last week. The New York-based firm, which has been building its own charging stations, views Tesla’s decision as a growth opportunity.

These four sites, originally intended to house about 60 charging stalls, are largely power-ready and align with Revel’s expansion objectives. “Tesla left some really nice sites on the table,” Revel spokesperson Robert Familiar said, as per the report. “They're essentially ready to go. Those kinds of sites are super rare, and we are actively looking to pursue them.”

See Also: Best EV Penny Stocks

Revel CEO Frank Reig, in a LinkedIn post, said: “While I still don't see how it's good for Tesla, letting go of the Supercharger team is great for the rest of the industry.”

"They've burned landlord relationships. They've ceded market share. They've freed up top talent,” he added.

At present, Revel operates over 50 charging stalls in Brooklyn and Queens, with its fleet mainly comprising Tesla Model 3 and Model Y units. The company began incorporating the Kia Niro into its fleet last year.

Why It Matters: Tesla’s decision to slow down the expansion of new Supercharger locations came after the exit of its unit head, Rebecca Tinucci following mass layoffs at the EV giant. 

CEO Elon Musk stated that the company would still grow the Supercharger network, albeit at a slower pace for new locations, and instead concentrate on maintaining 100% uptime and expanding existing locations. 

Read Next: ‘It’s An Obvious Move:’ Elon Musk Nudges Warren Buffett Again To Take Position In Tesla 

Photo via Shutterstock