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Government Freeze on EV Charging Program Sparks Private Sector Investment

As President Donald Trump attempts to freeze funding for a $5 billion federal EV charging infrastructure program, some states are stepping up to fill the gap. While the federal program faces uncertainty, private companies are investing heavily in EV charging infrastructure.

Revel Expands Public Fast-Charging Network in New York City

EV charging infrastructure startup Revel secured a $60 million loan from New York’s clean energy investment fund NY Green Bank to more than triple its current public fast-charging network in New York City. This investment is a significant boost to the company’s plans to expand its network and provide more charging options to electric vehicle owners in the city.

NY Green Bank Makes Historic Investment in EV Charging Infrastructure

The $60 million loan is a first for NY Green Bank, which has yet to fund EV-charging infrastructure. The fund’s involvement signals that New York is committed to electric vehicles and that debt lenders are beginning to see EV charging infrastructure as a viable investment opportunity. This historic investment sets a precedent for other states and companies looking to invest in EV charging infrastructure.

Revel’s Expansion Plans

The funding will help Revel build out nine sites across the city, with 267 new fast-charging stalls by 2027. Over the next 12 months, Revel plans to complete construction on five public charging sites with around 158 charging stalls. These sites will include its recently announced location at John F. Kennedy airport, as well as four more across Queens, Brooklyn, and the Bronx.

Revel’s JFK Site Breaks Ground

Revel broke ground in November at its JFK site, which it expects to open in the first quarter of 2025. Like its upcoming station at LaGuardia Airport, the JFK site is located close to where ride-hail drivers wait for passengers, making it an ideal location for drivers.

Revel’s Maspeth Site to be One of Largest Public Charging Stations

Revel’s upcoming site in Maspeth, Queens, will have 60 stalls, making it one of the largest public charging stations in the nation. This significant investment will provide much-needed charging options for electric vehicle owners in the city, particularly in urban areas.

New York Governor Announces Support for EV Charging Infrastructure

“In support of the transition to a clean energy economy, it is critical that we continue to build electric vehicle infrastructure to ease the shift to EV ownership for more New Yorkers, especially those in urban areas,” said New York governor Kathy Hochul in a statement. “This significant investment addresses the key need of providing electric vehicle users in New York City with much-needed public charging options while reducing local emissions.”

New York State Mandates Zero Emissions Vehicles by 2035

In 2022, New York state mandated that all new sales or leases of light-duty passenger vehicles must be zero emissions vehicles by 2035. As a result, there is a growing need for EV charging infrastructure in the state.

Revel Expands Beyond New York City

Revel is also investing in other markets, including California. The company is continuing to fundraise, specifically equity and debt, to build out more charging stations in the state. Revel hopes to launch a site in the Bay Area this year, with an eye toward slotting into the burgeoning electric robotaxi industry there.