Uber and Revel partner up to offer EV drivers exclusive charging discounts in NYC

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1 year ago

March 6, 2024

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Uber Technologies and charging provider Revel have announced a new strategic partnership in which the rideshare network will financially support the latter in expanding its charging infrastructure in exchange for exclusive charging discounts for its drivers. The perks will start in New York City with plans to expand Revel chargers and discounts to other major cities across the US.

Everyone already knows Uber, so we will start with a quick refresher course on Revel. The Brooklyn-based EV charging startup was founded in 2018 and is focused on all-electric taxi fleets and the charging infrastructure necessary to support them.

The company is easily recognizable by its sky blue Tesla Model Ys and Kia Niro EVs driving around the Big Apple. In November 2022, Revel shared intentions to expand its network of fast chargers outside of New York City into other major metropolitan areas in the US.

Today, the startup has announced a unique partnership with the biggest name in rideshares, Uber, to help expedite that process in exchange for charging support for its drivers.

Revel to offer Uber drivers 25% discount in multi-year deal

The new partners shared details of their multi-year strategic partnership this morning, in which Uber drivers gain access to Revels 250 fast chargers currently operating around New York City at a discount that varies based on a driver’s status in the network.

As part of this exclusive deal, Uber says it will provide a “financial commitment” to Revel as a utilization guarantee up to certain levels to support existing and future EV chargers in NYC. Furthermore, Uber will share its aggregated data to help the charging startup determine the best locations for future EV charging stations. Andrew Macdonald, Senior Vice President of Mobility and Business Operations at Uber, elaborated:

Tackling urban charging deserts is an important part of building an all-electric future. Since our earliest days, Uber has proudly served underserved communities with rides and earning opportunities and we are thrilled to continue that progress in partnership with Revel to ensure the next wave of charging infrastructure in New York City serves EV drivers and city residents alike.

With the partnership in place, Uber drivers become eligible for charging rate discounts of up to 25% on Revel’s network. Those discounts are determined by a driver’s given status in Uber Pro – the rideshare company’s rewards program for drivers. Revel says the discount will apply to its per kWh retail charging rates.

Revel’s charging sites around New York City are public and available 24/7, and the startup only charges drivers for the charging itself, with no fees for access or parking, enabling Uber drivers to get in and out more quickly and get back to making money.

Revel currently operates the three largest fast charging stations in New York City but intends to extend its reach to more neighborhoods in need. Not to mention more large cities around the US. Per Revel co-founder and CEO Frank Reig:

Together, Revel and Uber are showing how to accelerate EV infrastructure in the hardest to build places, dense cities. With Uber’s guarantee of demand at our sites, we’ll be able to expand our public charging network faster first here in New York and soon in other big rideshare markets like San Francisco, Los Angeles, Chicago, Boston and more.

Revel is currently working on a previously announced EV charging station near LaGuardia Airport, which will include 48 fast charger piles adjacent to the area’s designated “for-hire” waiting area. When complete, it will be the largest public fast charging station by any airport in the US, and we expect to see Uber drivers taking full advantage of it in the future.

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Wheel-E Podcast: NIU electric moped visit, X Games says e-motos too good, more

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1 hour ago

March 28, 2025

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Wheel-E Podcast: NIU electric moped visit, X Games says e-motos too good, more

This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes a visit to electric moped maker NIU’s factory, Tern’s new GSD e-bike, Rad Power Bikes getting a new CEO, a Segway scooter recall, X Games kicking out electric motorcycles, and more.

The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:
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We also have a Patreon if you want to help us to avoid more ads and invest more in our content. We have some awesome gifts for our Patreons and more coming.

Here are a few of the articles that we will discuss during the Wheel-E podcast today:

Here’s the live stream for today’s episode starting at 8:00 a.m. ET (or the video after 9:00 a.m. ET):

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Get this $20,000 Tesla conquest deal on Polestar 3 (before the tariffs hit)

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1 hour ago

March 28, 2025

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Get this ,000 Tesla conquest deal on Polestar 3 (before the tariffs hit)

Make the switch to Polestar. Save up to $20,000 on a Polestar 3 lease as a Tesla owner.

The Trump Administration just slapped huge tariffs on imported cars, causing many car buyers to accelerate their purchase plans and snap up a new car now, rather than wait. If that’s you, and you’re one of the thousands looking to distance yourself from Tesla, the time is now to check out this $20,000 Tesla conquest deal from Polestar.

It might seem hard to believe now, but once upon a time there were a bunch of otherwise sane, intelligent people who believed that there was “infinite demand” for Tesla’s cars. That’s not true anymore – it’s an objective fact that the two million reservations for Tesla Cybertruck haven’t turned into sales, and the rest of the brand’s cars are losing value three times faster than the rest of the new car market, making them tough to sell or trade in.

That’s where incentives come in – and, while a number of car brands are offering several thousands of dollars to EV buyers looking to make the switch, this $20,000 Tesla conquest deal from Polestar might be the one that’s most aggressively targeting Tesla buyers.

From the Polestar website:

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Calling all Tesla owners. Enjoy up to $20,000 towards the lease of a new Polestar 3 when you combine the $5,000 Polestar Conquest Bonus and the $15,000 Polestar Clean Vehicle Incentive.

Polestar 3 is the SUV that drives like a sports car. Featuring range up to 350 miles, 517 hp, 0-60 mph in 4.5 seconds, and built-in technologies like Google Assistant and Apple CarPlay.

POLESTAR US

Polestar hasn’t been shy about what it views as an “opportunity” to snatch up car buyers who want to distance themselves from Musk. The company’s CEO, German auto industry stalwart Michael Lohscheller, told Bloomberg, “For Germany, somebody outside of Germany endorsing right-wing political parties is a big thing. You want to know what I think about it? I think it’s totally unacceptable. Totally unacceptable. You just don’t do that. This is pure arrogance, and these things will not work.”

He’s hoping enough people agree to move the needle on Polestar sales in the US – and the first step to that is for consumers to get behind the wheel of this “masterfully tuned and sneaky-fast SUV,” and see if it’s a fit for them.

Electrek’s Take

I spent half the day in a local Volvo dealership I’ve had a great relationship with for years. I know those guys well. They typically average about 2-3 units per day.

Yesterday? I arrived around 1:30PM with a sack of spicy chicken sandwiches (if you want good customer service, be a good customer), and they’d already moved a half dozen units by the time I got there. They were looking at another dozen fresh leads from panicked city-dwellers looking to come in and make a deal over the weekend.

It’s about to get weird out there, kids. You could do far worse than trying to navigate said weirdness in a new Polestar.

SOURCE | IMAGES: Polestar.

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Activist investor Elliott takes short position in Shell after building a stake in rival BP

Published

2 hours ago

March 28, 2025

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Activist investor Elliott takes short position in Shell after building a stake in rival BP

A Shell logo is displayed on May 03, 2024 in Austin, Texas.

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U.S. activist investor Elliott Investment Management has taken a short position against British oil major Shell as part of a global hedging program.

The move, which was first reported by British newspaper The Times on Thursday, comes shortly after it emerged Paul Singer’s hedge fund had taken a near 5% stake in Shell’s struggling rival, BP.

Elliott is said to have amassed an £850 million ($1.1 billion) bet against Shell, The Times reported, citing filings with the Financial Conduct Authority.

The position is reportedly worth 0.5% of Shell’s stock and is thought to represent the biggest short position disclosed against the energy major in nearly a decade. A short position refers to a bet that a company’s stock will fall in value.

Elliott and Shell both declined to comment when contacted by CNBC on Friday.

Shares of Shell traded 0.5% lower at around 11 a.m. London time (7 a.m. E.T.) on Friday. The London-listed stock is up around 13.6% year-to-date.

Earlier this month, it was reported that Elliott had taken a short position of around 670 million euros ($722 million) in French oil giant TotalEnergies. A spokesperson for TotalEnergies did not immediately respond to a request for comment on Friday.

“When a hedge fund creates a long position — leveraged or not, because often they use leverage with these positions — they need for risk management purposes to create an opposite position, i.e. a short, into a similar company,” Maurizio Carulli, energy and materials analyst at Quilter Cheviot, said on Friday.

“The most likely reason for that is because it is an offsetting position with respect to the BP one, so both Total and Shell has been created as a short for risk management,” Carulli told CNBC via video call.

“Otherwise, if for any reason the market moves against them — for example, things like oil prices or whatever — they need to have some protection,” he added.

Elliott’s moves come as European energy majors double down on fossil fuels in an effort to boost near-term shareholder returns.

Shell recently announced plans to increase shareholder returns and cut spending as it reinforces its liquified natural gas (LNG) push. BP and Norway’s Equinor, meanwhile, have also outlined respective plans to slash renewable spending in favor of oil and gas.