Tesla's Loss, Revel's Gain: Ride-Hailing Company Eyes Abandoned Supercharger Sites In New York
Portfolio Pulse from Benzinga Neuro
Revel, a ride-hailing company, is in talks to acquire four abandoned Supercharger sites from Tesla Inc. (NASDAQ:TSLA) in New York. These sites, ready for about 60 charging stalls, align with Revel's expansion plans. Revel's interest in these sites follows Tesla's decision to slow down its Supercharger expansion and disband its Supercharging team. Revel operates over 50 charging stalls in Brooklyn and Queens, primarily using Tesla Model 3 and Model Y, and has started adding Kia Niro to its fleet.
May 06, 2024 | 10:40 am
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Tesla Inc.'s decision to abandon Supercharger sites in New York and slow down new location expansions could impact its stock. Revel's interest in these sites indicates a shift in the competitive landscape for EV charging infrastructure.
Tesla's decision to slow down the expansion of new Supercharger locations and disband its Supercharging team could be seen negatively by investors, as it may signal a reduction in growth momentum for its charging infrastructure. Revel's interest in acquiring these sites could further intensify competition in the EV charging space, potentially affecting Tesla's market share and investor sentiment.
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