Revel, a New York City-based ridesharing company, will launch its fleet of Tesla Model Y taxis in the Big Apple in early August after a mix-up with NYC’s regulatory agency, the Taxi and Limousine Commission (TLC).
The approval and soon-to-be-launched fleet of Model Y taxis will hit New York City streets on August 2nd, according to Revel executives.
In mid-June, it was reported by several news media outlets that the NYC TLC had successfully blocked the inclusion of Revel’s Tesla Model Y taxis citing a stoppage on issuing new-for-hire taxi licenses for electric cars. However, the story was blown widely out of proportion through what TLC Spokesperson Allan Fromberg called, “a giant game of telephone.” In reality, the City placed a capacity limitation on the number of approved taxi licenses in 2018, halting the issuance of new taxi licenses for all vehicles, not just electric ones.
Tesla Model 3 wins hearts as famed NYC Taxi, picks up where Nissan Leaf couldn’t
Cries of conspiracy floated through the EV community, failing to accept the unfortunate verdict that was placed upon Revel’s all-electric, sustainable fleet of taxi cabs donning the notorious Tesla “T.” However, the TLC has granted Revel 49 licenses, according to Fromberg, covering all but one vehicle in the company’s Model Y fleet.
Of the 49, fifteen have been inspected and approved for operation as early as next week. The New York Daily News, who initially covered the story, said 35 others will roll out when they are inspected and approved for ride-hailing services. The fleet will operate south of 42nd St. in Manhattan, stretching down to the tip of the island. Revel told Teslarati that it will consider growing into other neighborhoods and boroughs once the company has more of an idea of where the fleet is being utilized most frequently.
The company will also open a Superhub in Bed-Stuy, Brooklyn with 25 Level 3 chargers. This will make it the largest universal fast charging depot in the Americas, the company said.
The addition of Revel’s 49 Model Ys broadens New York City’s small fleet of electrified taxis. 120,000 licensed vehicles already navigate through the City’s five boroughs, and there is not room for many more cars. However, the TLC is fully supportive of a transition to electrification, and it expects several agencies to make a more conscious effort toward introducing electric powertrains in the coming years. “The TLC is fully committed to a 100% electrified future, just not at the cost of additional congestion,” Fromberg told Teslarati.
For Revel, it has been a long and drawn-out process. The company’s attempts to gain licenses for its Model Y fleet started in March. After the five-to-one vote that approved the banishment of the EV exemption for taxis, Revel’s already-submitted applications were ultimately approved. A company spokesperson told Tesarati that Revel did not anticipate the approval of the licenses.
Fromberg, who has been the TLC’s Deputy Chief of Public Relations for several years, said that the agency was legally required to review and process Revel’s applications because they were submitted prior to June 25th, three days after the vote took place. “Revel applied for a Base License in the late Spring and submitted applications for electric cars ahead of the June 22nd vote. The Yellow Taxi market is rebounding and ridership has increased steadily since the City’s reopening,” Fromberg told us.
Revel CEO Frank Reig said, “The initial response from the public has been overwhelming, and we can’t wait to start serving New Yorkers who care as much about the City’s future as we do. With our all-electric rideshare fleet and fast-charging Superhub network, we’re investing in a zero-carbon transportation future. We’d like to thank Commissioner Jarmoszuk and the TLC for supporting New York City’s climate goals, and working with us to get the city’s first all-electric, all-employee driven fleet on the road.”
Don’t hesitate to contact us with tips! Email us at tips@teslarati.com, or you can email me directly at joey@teslarati.com.
Tesla just gave what is perhaps its biggest signal yet that the launch of the Cybercab, its autonomous ride-hailing-geared car, is imminent.
The Cybercab has been spotted outside of Gigafactory Texas in massive numbers over the past few days, with hundreds of units being stored on property just days after the vehicle received a Certificate of Conformity from the EPA.
Today, things were a bit different.
Cybercabs spotted on Giga Texas property today had an addition: a Cybercab decal on the side, reminiscent of the “Robotaxi” ones that were placed on Model Ys just as the company launched its ride-sharing platform about a year ago.
Giga Texas drone operator Joe Tegtmeyer noticed the change today:
Tesla Cybercabs are now getting “Cybercab” logos on the side of them!
Tesla did the same with Model Ys that were given “Robotaxi” logos: https://t.co/DanANtw1m7 pic.twitter.com/FqOhH0S9Ks
— TESLARATI (@Teslarati) June 19, 2026
Tesla could be signaling that the Cybercab is preparing to enter the Robotaxi fleet in the coming weeks or months with this move. It seems more symbolic than anything; Tesla is ready to throw Cybercabs in the ride-hailing platform just as it did with Model Ys last year.
The addition of the Certificate of Conformity awarded to the Cybercab is another major factor working to Tesla’s advantage. The company now has permission from the EPA to allow the vehicle to operate on public roads and enter the chain of commerce. It’s officially street legal.
Tesla Cybercab specs revealed: range, curb weight, range ratings, and more
The big question that remains is whether Tesla will be able to operate the car without a safety monitor, especially considering it plans to put the car out there without a steering wheel or pedals. With the Cybercab only having a seating capacity of two, it is hard to believe Tesla will even consider putting a Safety Monitor in the car.
It did recently self-certify as Level 4 and has the ability to operate driverless vehicles in the State of Texas under a law that took effect on May 28. You can read more about that here:
Tesla’s Robotaxi dreams just took a massive step toward reality
We’d imagine Cybercabs will be on the roads as soon as July, but August will likely be a better estimate of when the car will be entered into the Cybercab fleet. It all depends at where Tesla is, as they’ve truly prioritized safety with the rollout of the Robotaxi platform.
Elon Musk has publicly questioned Moody’s credit assessments following the rating agency’s decision to assign SpaceX a Baa1 investment-grade rating, two notches above Tesla’s Baa3. The comments came amid discussions comparing the two companies’ financial profiles.
SpaceX earned its first-time Baa1 rating with a stable outlook from Moody’s. The agency highlighted the company’s leadership in orbital launches, the growing recurring revenue from its Starlink satellite network, strong vertical integration, U.S. government contracts, and emerging opportunities in AI infrastructure.
These factors were cited as supporting robust cash flows, margin expansion, and financial flexibility.
Musk responded directly: “Tesla’s credit rating is ridiculously low tbh,” and added, “Yeah, makes no sense. Tesla has over $40B in cash, no debt, and is consistently profitable!” His remarks underscored Tesla’s balance sheet strength and profitability at a time when many traditional automakers continue to report losses in the shift to electric vehicles.
Yeah, makes no sense.
Tesla has over $40B in cash, no debt and is consistently profitable!
— Elon Musk (@elonmusk) June 19, 2026
Tesla maintains a leading position in the global EV market, with diversification into energy and storage, battery technology, and robotics through projects like Optimus. Recent financial updates show the company generated positive free cash flow of $1.4 billion in Q1 2026, supported by operating cash flow of $3.9 billion. Cash and short-term investments stood at approximately $44.7 billion.
Moody’s has affirmed Tesla’s Baa3 issuer rating with a stable outlook in periodic reviews, acknowledging the company’s EV leadership, technology strengths, including AI for autonomous vehicles, solid profitability, and strong liquidity.
Tesla (TSLA) scores Baa3 Moody’s rating for ‘stable’ outlook
However, the agency has also noted challenges in the automotive segment and expectations for margin pressures.
Musk’s critique highlights a common debate about how traditional rating methodologies apply to high-growth, capital-intensive technology companies. SpaceX benefits from long-term government-backed contracts and diversified, recurring revenue streams, while Tesla’s valuation reflects heavy investment in future technologies such as autonomy and robotics.
Both ratings remain investment-grade, yet the one-notch difference has fueled online discussion about potential inconsistencies in evaluating innovative firms.
The exchange comes as SpaceX explores financing options following its recent valuation milestones, while Tesla continues executing on its multi-year roadmap. Musk’s pointed response serves as a reminder that credit ratings, though influential for borrowing costs, represent one lens through which markets assess corporate strength—and that company leaders often view their financial positions through the lens of long-term innovation and cash generation rather than short-term risk metrics alone.
A new report from Reuters claims that a transport authority in Sweden is pushing back against the approval of Tesla’s Full Self-Driving suite because it will travel over speed limits.
The report says the Swedish Transport Administration (TRV) recommends the European Union votes against FSD’s approval. TRV believes it should not be approved until Tesla disables FSD’s ability to speed.
TRV sent a letter to the European Union’s Technical Committee on Motor Vehicles (TCMV), which is set to meet on June 30 to discuss the potential approval of the Tesla FSD suite in the country. Tesla, which has received various approvals in Europe over the past two months, has not provided a comment.
Teslas operating on FSD do travel over the speed limit, depending on the Speed Profile that is chosen. Drivers have the ability to disengage FSD at any point; Tesla specifically states that those supervising the suite are responsible for its actions.
Let’s cut to the chase: humans operating any vehicle speed almost daily in the United States. Realistically, speed limits in the U.S. are more frequently treated as speed minimums. However, other countries are different, and driving behaviors are less aggressive.
TRV believes that “allowing automated systems to systematically exceed legal speed limits…risks undermining both the legal framework and the expected safety benefits of vehicle automation,” the report stated. It’s surprising that Tesla has not received this claim from other countries previously.
This could be a good argument to bring Max Speed back, the setting that previously allowed the driver to choose the absolute fastest the car would travel.
This would still put the responsibility of supervision in the hands of the driver. It would allow the driver to choose whether the car would travel over the speed limit or not, acknowledging that they set the speed, and if they get pulled over, there would be no ability to argue it.
However, it does not seem as if this is something Tesla will do, especially considering many U.S. drivers have requested the feature in an effort to eliminate speeding or at least tone it down. The company has not shown any interest in bringing it back.
Tesla has approvals for FSD in Europe in Estonia, Lithuania, Denmark, the Netherlands, and Belgium.
Tesla Cybercab launch is imminent after latest sighting at Giga Texas
Elon Musk says this part of Tesla ‘makes no sense’
