New York loans $60 mil to Revel for new electric vehicle charging stations

New York will loan $60 million to electric vehicle company Revel to expand its charging network, the state said Feb. 10, after federal funding for EV infrastructure was frozen on Feb. 6.

The loan supports 267 new chargers across nine sites, with 178 expected in the next 12 months and the remainder expected by 2027.

"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," New York Governor Kathy Hochul said.

Revel expects a site at the JFK Airport with 24 chargers to open in the first quarter of 2025, CEO Frank Relg said in a statement. The site is "expected to be one of the most utilized charging stations in the country," he said.

The announcement came as the US Department of Transportation paused federal grants to states for EV charger buildout.

The funding, which was previously approved and allocated by the US Congress, will be paused until the DOT conducts a review and revises the program in the spring, according to a Feb. 6 memo.

The move is "likely illegal," said Andrew Rogers, a former deputy administrator of the Federal Highway Administration under President Joe Biden and former chief counsel for the US Senate.