Revel is going to build more EV fast charging Superhubs in the US
Revel, which specializes in building universal fast charging stations in cities and also offers Tesla rideshare and electric moped rentals, today announced that it’s going to expand its network of high-volume, public EV fast charging Superhubs. The Brooklyn-based company will site the new Level 3 charging stations in dense US urban areas.
BlackRock Alternatives is financing Revel’s expansion with $50 million in unsecured debt through its Climate Infrastructure fund. This investment follows Revel’s $126 million Series B funding round, which was announced in February and led by BlackRock.
Revel’s flagship Superhub is in Bedford-Stuyvesant, Brooklyn. With 25 fast chargers, it’s the largest public fast charging depot in North America. The company will open additional similar sites in major US cities in 2023.
Revel’s Superhubs will offer Level 3 charging – 100 miles in under 20 minutes – to all EV brands. Drivers only pay for charge, not for access.
The new Superhubs will feature a large number of stalls and charging speeds of at least 150 kW. Revel Superhubs are open to general consumers, Revel’s Tesla rideshare fleet, third-party rideshare operators, and light-duty delivery vehicles.
Frank Reig, CEO and cofounder of Revel, said:
BlackRock’s Climate Infrastructure team has been a great partner to Revel, and today’s announcement shows just how committed they are to our shared goals.
With BlackRock’s support, Revel is preparing a huge expansion of our Superhub network, giving cities across the country the infrastructure they need to go electric.
Electrek asked Revel how many Superhubs they’ll build and where, and they’re being a little tight-lipped. They won’t yet reveal which new cities they’re going to expand to, or how many, but they did say that New York City will get more Revel Superhubs.
Read more: New York State commits to 100% electric school buses by 2035
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Tesla’s Q2 results are in, and they are way, way down from Q2 of 2024. At the same time, Nissan seems to be in serious trouble and the first-ever all-electric Dodge muscle car is getting recalled because its dumb engine noises are the wrong kind of dumb engine noises. All this and more on today’s deeply troubled episode of Quick Charge!
We’ve also got an awesome article from Micah Toll about a hitherto unexplored genre of electric lawn equipment, a $440 million mining equipment deal, and a list of incompetent, corrupt, and stupid politicians who voted away their constituents’ futures to line their pockets.
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OpenAI is distancing itself from Robinhood‘s latest crypto push after the trading platform began offering tokenized shares of OpenAI and SpaceX to users in Europe.
“These ‘OpenAI tokens’ are not OpenAI equity,” OpenAI wrote on X. “We did not partner with Robinhood, were not involved in this, and do not endorse it.”
The company said that “any transfer of OpenAI equity requires our approval — we did not approve any transfer,” and warned users to “please be careful.”
Robinhood announced the launch Monday from Cannes, France, as part of a broader product showcase focused on tokenized equities, staking, and a new blockchain infrastructure play. The company’s stock surged above $100 to hit a new all-time high following the news.
“These tokens give retail investors indirect exposure to private markets, opening up access, and are enabled by Robinhood’s ownership stake in a special purpose vehicle,” a Robinhood spokesperson said in response to the OpenAI post.
Robinhood offered 5 euros worth of OpenAI and SpaceX tokens to eligible EU users who signed up to trade stock tokens by July 7. The assets are issued under the EU’s looser investor restrictions via Robinhood’s crypto platform.
“This is about expanding access,” said Johann Kerbrat, Robinhood’s SVP and GM of crypto. “The goal with tokenization is to let anyone participate in this economy.”
The episode highlights the dynamic between crypto platforms seeking to democratize access to financial products and the companies whose names and equity are being represented on-chain
U.S. users cannot access these tokens due to regulatory restrictions.
Despite the warnings, BYD continues introducing new discounts. On Wednesday, BYD’s luxury off-road brand began offering over 50% Huawei’s smart driving tech.
BYD introduces new discounts on smart driving tech
After BYD cut prices again in May, the China Automobile Manufacturers Association (CAMA) warned that the ultra-low prices are “triggering a new round of price war panic.”
Although they didn’t single out BYD, it was pretty obvious. BYD slashed prices across 22 of its vehicles by up to 34%, triggering several automakers to follow suit in China.
BYD’s cheapest EV, the Seagull, typically starts at about $10,000 (66,800 yuan). After the price cuts, the Seagull is listed at under $8,000 (55,800 yuan).
It doesn’t look like China’s EV leader plans to slow down anytime soon. Fang Cheng Bao, BYD’s luxury off-road brand, introduced new discounts on Huawei’s smart driving tech on Wednesday.
The limited-time offer cuts the price of Huawei’s Qiankun Intelligent Driving High-end Function Package to just 12,000 yuan ($1,700).
Buyers who order the smart driving tech in July will save over 50% compared to its typical price of 32,000 yuan ($4,500).
Earlier this year, Fang Chang Bao launched the Tai 3, its most affordable vehicle, starting at 139,800 yuan ($19,300). The Tai 3 is about the size of the Tesla Model Y, but costs about half as much.
The Tai 3 will spearhead a new sub-brand of electric SUVs following the more premium Bao 8 and Bao 5 hybrid SUVs.
BYD’s luxury off-road brand sold 18,903 vehicles last month, up 50% from May and 605% compared to last year. Fang Cheng Bao has now sold over 10,000 vehicles for three consecutive months.
The Chinese EV giant sold 382,585 vehicles in total in June, an increase of 12% from last year. In the first half of the year, BYD’s cumulative sales reached over 2.1 million, a YOY increase of 33%.
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