STOCK TITAN

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

Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
Tags

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.

Toyota Motor North America e Revel hanno annunciato un accordo per fornire ai clienti di veicoli elettrici (BEV) Toyota e Lexus accesso gratuito alla rete di ricarica rapida DC di Revel a New York City per circa tre anni fino al 14 ottobre 2027. Revel gestisce la più grande rete di stazioni di ricarica rapida pubbliche a NYC, con quattro stazioni ad alto volume aperte 24 ore su 24, 7 giorni su 7, che offrono sia tipi di spina NACS che CCS.

Toyota Ventures, la firma di capitale di rischio in fase iniziale di Toyota, ha investito per la prima volta in Revel nel 2019. La collaborazione mira a sostenere gli obiettivi di Toyota di aumentare l'adozione diffusa di veicoli elettrici attraverso la comodità per i clienti. Revel attualmente gestisce 64 stalli di ricarica rapida in quattro stazioni a Manhattan, Brooklyn e Queens, con piani di espandere a 300 stalli di ricarica rapida a NYC entro il prossimo anno. L'azienda sta anche sviluppando sedi nell'area della Baia e ha firmato il suo primo contratto di locazione nel centro di Los Angeles.

Toyota Motor North America y Revel han anunciado un acuerdo para proporcionar a los clientes de vehículos eléctricos de batería (BEV) de Toyota y Lexus acceso gratuito a la red de carga rápida DC de Revel en la ciudad de Nueva York por aproximadamente tres años hasta el 14 de octubre de 2027. Revel opera la red más grande de estaciones de carga rápida públicas en NYC, con cuatro estaciones de alto volumen abiertas 24/7 que ofrecen ambos tipos de enchufes NACS y CCS.

Toyota Ventures, la firma de capital de riesgo en fase inicial de Toyota, invirtió por primera vez en Revel en 2019. La colaboración tiene como objetivo apoyar las metas de Toyota para aumentar la adopción generalizada de vehículos eléctricos a través de la conveniencia del cliente. Revel actualmente opera 64 lugares de carga rápida en cuatro estaciones en Manhattan, Brooklyn y Queens, con planes de expandirse a 300 lugares de carga rápida en NYC dentro del próximo año. La empresa también está desarrollando sitios en el área de la Bahía y ha firmado su primer contrato de arrendamiento en el centro de Los Ángeles.

토요타 모터 북미와 레벨은 토요타 및 렉서스 배터리 전기차(BEV) 고객들에게 뉴욕시의 레벨 DC 고속 충전 네트워크에 무료로 접근할 수 있는 계약을 발표했습니다 이 계약은 2027년 10월 14일까지 약 3년 동안 유효합니다. 레벨은 뉴욕시에 있는 대중 고속 충전소 네트워크를 운영하고 있으며, 24시간 운영되는 4개의 고용량 충전소에서 NACS 및 CCS 플러그 타입을 모두 제공합니다.

토요타 벤처스는 토요타의 초기 단계 벤처 캐피탈 회사로, 2019년에 레벨에 처음 투자했습니다. 이 협력은 고객의 편의를 통해 전기차의 대중적인 수용을 증가시키는 토요타의 목표를 지원하는 것을 목표로 합니다. 현재 레벨은 맨해튼, 브루클린 및 퀸즈에 있는 4개의 충전소에서 64개의 고속 충전 구역을 운영하고 있으며, 내년에는 뉴욕시 내에서 300개의 고속 충전 구역으로 확장할 계획입니다. 이 회사는 베이 지역에서도 사이트를 개발하고 있으며 로스앤젤레스 다운타운에서 첫 번째 임대를 체결했습니다.

Toyota Motor North America et Revel ont annoncé un accord pour fournir aux clients de véhicules électriques à batteries (BEV) Toyota et Lexus un accès gratuit au réseau de recharge rapide DC de Revel à New York City pour environ trois ans jusqu'au 14 octobre 2027. Revel exploite le plus grand réseau de stations de recharge rapide publiques à NYC, avec quatre stations à fort trafic ouvertes 24h/24 et 7j/7 offrant à la fois des types de prises NACS et CCS.

Toyota Ventures, la société de capital-risque en phase de démarrage de Toyota, a investi pour la première fois dans Revel en 2019. La collaboration vise à soutenir les objectifs de Toyota d'augmenter l'adoption généralisée des véhicules électriques grâce à la commodité pour les clients. Actuellement, Revel exploite 64 stands de recharge rapide dans quatre stations à Manhattan, Brooklyn et Queens, avec des projets d'expansion à 300 stands de recharge rapide à NYC d'ici l'année prochaine. L'entreprise développe également des sites dans la Bay Area et a signé son premier bail dans le centre-ville de Los Angeles.

Die Toyota Motor North America und Revel haben eine Vereinbarung angekündigt, den Kunden von Batteriefahrzeugen (BEV) von Toyota und Lexus kostenlosen Zugang zum DC-Schnellladenetz von Revel in New York City zu gewähren für etwa drei Jahre bis zum 14. Oktober 2027. Revel betreibt das größte Netzwerk öffentlicher Schnellladeeinrichtungen in NYC mit vier hochfrequentierten Stationen, die rund um die Uhr geöffnet sind und sowohl NACS- als auch CCS-Steckertypen anbieten.

Toyota Ventures, die frühphasige Risikokapitalgesellschaft von Toyota, investierte erstmals 2019 in Revel. Die Zusammenarbeit hat zum Ziel, die Ziele von Toyota zur Förderung der breiten Akzeptanz von Elektrofahrzeugen durch Kundennutzen zu unterstützen. Revel betreibt derzeit 64 Schnellladeplätze an vier Stationen in Manhattan, Brooklyn und Queens und plant, innerhalb des nächsten Jahres auf 300 Schnellladeplätze in NYC zu expandieren. Das Unternehmen entwickelt auch Standorte in der Bay Area und hat seinen ersten Mietvertrag in der Innenstadt von Los Angeles unterzeichnet.

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.

Insights

This partnership between Toyota and Revel marks a significant step in addressing one of the key barriers to EV adoption: charging infrastructure. By offering complimentary fast charging for approximately three years, Toyota is effectively reducing the total cost of ownership for their BEV customers in New York City, a major urban market.

The collaboration leverages Revel's existing network of 64 fast charging stalls across four stations, with plans to expand to 300 stalls within a year. This rapid expansion, including high-capacity locations like the 60-stall Maspeth station, indicates a substantial investment in urban EV infrastructure.

For investors, this move signals Toyota's commitment to supporting its EV lineup beyond just vehicle sales. The strategic investment through Toyota Ventures also demonstrates a forward-thinking approach to the EV ecosystem. As Revel expands to other major cities like San Francisco and Los Angeles, this partnership could potentially scale, further enhancing Toyota's competitive position in the EV market.

This agreement represents a strategic move by Toyota to enhance its value proposition in the highly competitive BEV market. By partnering with Revel, Toyota addresses a critical pain point for urban EV owners - convenient and cost-effective charging.

The timing is crucial, as Toyota is relatively late to the BEV market with models like the bZ4X and Lexus RZ. This charging initiative could help differentiate Toyota's offerings and potentially boost sales in key urban markets. It's particularly noteworthy that the deal extends to Lexus, supporting Toyota's premium EV strategy.

Investors should consider how this might impact Toyota's market share in the EV segment, especially in dense urban areas where charging can be challenging. The three-year timeframe of the offer also suggests a long-term commitment to EV adoption, which could influence consumer perception of Toyota's electric ambitions.

  • 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

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/toyota-revel-offer-complimentary-dc-fast-charging-for-toyota-and-lexus-battery-ev-customers-in-nyc-302275570.html

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.

Toyota Motor Corporation American Depositary Shares (Each representing ten Ordinary Shares)

NYSE:TM

TM Rankings

TM Latest News

TM Stock Data

225.91B
15.79B
1.56%
0.05%
Auto Manufacturers
Consumer Cyclical
Link
United States of America
Toyota