Toyota, Revel Offer Complimentary DC Fast Charging for Toyota and Lexus Battery EV Customers in NYC

Rhea-AI Summary

Toyota Motor North America and Revel have announced an agreement to provide Toyota and Lexus battery electric vehicle (BEV) customers with complimentary access to Revel's DC fast charging network in New York City for approximately three years through October 14, 2027. Revel operates the largest network of public fast charging stations in NYC, with four high-volume stations open 24/7 offering both NACS and CCS plug types.

Toyota Ventures, Toyota's early-stage venture capital firm, first invested in Revel in 2019. The collaboration aims to support Toyota's goals of increasing widespread adoption of electric vehicles through customer convenience. Revel currently operates 64 fast charging stalls across four stations in Manhattan, Brooklyn, and Queens, with plans to expand to 300 fast charging stalls in NYC within the next year. The company is also developing sites in the Bay Area and has signed its first lease in downtown Los Angeles.

Positive

• Complimentary access to Revel's DC fast charging network for Toyota and Lexus BEV customers in NYC
• Partnership supports Toyota's goal of increasing EV adoption through improved customer convenience
• Revel plans to expand its NYC network from 64 to 300 fast charging stalls within a year
• Revel is expanding its charging network to other major cities like San Francisco and Los Angeles

Negative

• None.

News Market Reaction

-3.17%

1 alert

-3.17% News Effect

On the day this news was published, TM declined 3.17%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

• Revel operates largest network of public fast charging stations in New York City
• Agreement provides Toyota and Lexus customers access to complimentary charging at Revel charging stations
• Toyota Ventures investment into Revel supports adoption of electrified mobility solutions

PLANO, Texas and NEW YORK, Oct. 15, 2024 /PRNewswire/ -- Toyota Motor North America (Toyota) and Revel announced today an agreement to provide Toyota and Lexus battery electric vehicle (BEV) customers with complimentary access to Revel's DC fast charging network in New York City for approximately three years through October 14, 2027. Revel currently operates the largest network of public fast charging stations in New York City, with four high-volume stations open 24/7 offering both NACS and CCS plug types.

"Charging should be a seamless experience and is crucial for customer satisfaction," said Christopher Yang, group vice president, Toyota EV Charging Solutions. "Working with Revel will help elevate the charging experience for our customers in the New York City area while underscoring Toyota's commitment to supporting sustainable mobility solutions and enhancing the ownership experience."

Toyota Ventures, Toyota's early-stage venture capital firm, first invested in Revel in 2019 and has supported Revel's efforts to expand its DC fast charging network in New York City and other markets by providing Toyota the ability to further research and evaluate charging program opportunities. Supplying Toyota bZ4X and Lexus RZ battery EV (BEV) customers with complimentary access to Revel's charging network supports Toyota's goals to increase widespread adoption of electric vehicles through customer convenience.

"Revel is proud to build on our strategic collaboration with Toyota to accelerate urban EV adoption. As we expand our charging network in New York and California, we are excited to create more opportunities for Toyota and Lexus drivers to charge fast and, starting now, charge free," said Frank Reig, Revel's co-founder & CEO.

Revel currently operates 64 fast charging stalls in New York City across four stations in Manhattan, Brooklyn and Queens. That includes the recently opened Pier 36 Charging Station, Revel's first site in downtown Manhattan featuring ten 320 kW chargers. In the next year, Revel is planning to grow its NYC network to 300 fast charging stalls, with new locations such as a mega 60-stall station in Maspeth, Queens and a 48-stall station outside LaGuardia Airport. The company also has seven sites in development across the Bay Area and recently announced its first lease signed in downtown Los Angeles.

For more information on the program, please visit Revel's page for Toyota or Lexus.

About Toyota
Toyota (NYSE:TM) has been a part of the cultural fabric in North America for more than 65 years, and is committed to advancing sustainable, next-generation mobility through our Toyota and Lexus brands, plus our more than 1,800 dealerships. 

Toyota directly employs more than 63,000 people in North America who have contributed to the design, engineering, and assembly of nearly 47 million cars and trucks at our 13 manufacturing plants. By 2025, Toyota's 14th plant in North Carolina will begin to manufacture automotive batteries for electrified vehicles. With more electrified vehicles on the road than any other automaker, Toyota currently offers 30 electrified options.

For more information about Toyota, visit www.ToyotaNewsroom.com.

About Revel
Founded in 2018, Revel is a Brooklyn-based company committed to helping big cities transition to a zero-emission electric future. The company is the leading provider of public EV fast charging in New York City and runs the country's only all-electric rideshare platform. Learn more at gorevel.com.

MEDIA CONTACTS
Toyota Media Contact
Josh Burns
Joshua.Burns@Toyota.com

Revel Media Contact
Robert Familiar
press@gorevel.com

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SOURCE Toyota Motor North America

FAQ

What is the duration of the complimentary charging offer for Toyota and Lexus BEV customers in NYC?

The complimentary charging offer for Toyota and Lexus BEV customers in NYC is valid for approximately three years, through October 14, 2027.

How many fast charging stalls does Revel currently operate in New York City?

Revel currently operates 64 fast charging stalls across four stations in Manhattan, Brooklyn, and Queens in New York City.

What are Revel's expansion plans for its charging network in NYC?

Revel plans to grow its NYC network from 64 to 300 fast charging stalls within the next year, including a 60-stall station in Maspeth, Queens, and a 48-stall station outside LaGuardia Airport.

How does this partnership affect Toyota's (TM) electric vehicle strategy?

The partnership supports Toyota's (TM) goals to increase widespread adoption of electric vehicles by enhancing customer convenience through access to Revel's charging network.