Food trucks in the U.S. have taken many forms, but have long been a popular option for dining. Now as the coronavirus pandemic alters the way we interact and engage with others, these kitchens on wheels may have a new function, especially on college campuses.
Rod Keller, CEO of the electric vehicle manufacturer AYRO is jumping at the opportunity to capitalize on the niche industry in a partnership with Gallery Carts. The new collaboration will combine AYRO's expertise in developing electric vehicles with Gallery's expertise in creating food delivery vehicles.
"Colleges are faced with, 'Well how do we provide food and beverage while at the same time, avoiding the mass crowds that you would typically see inside of a cafeteria?'" Keller told Cheddar.
So far, more than $500,000 has been poured into the collaboration as orders for the vehicles continue to amass. Keller said he's confident that as universities and other large campuses seek safer ways to feed their communities amid the pandemic, the need for their services will grow.
AYRO is also banking on buyers in higher education considering the long-term savings electric vehicles can provide. Keller said its electric vehicles save fleet operators at least 50 percent on fuel and energy costs.
"When people are moving cargo from one side of a university to another, or business campus, or hotel and resort, you don't need a full-sized truck with 400 miles of range running on gasoline to do that," Keller said.
The Buy Now, Pay Later trend no longer has the luster it once had during the pandemic. Brandon Kreig, Stash CEO and co-founder, joins Cheddar News to give us insight on what happened and what's next for BNPL companies.
Join Cheddar News as we break down the top headlines this morning including updates on the Jan. 6 hears, the PGA suspension of 17 of the world's best golfers, and NASA's plans to study UFOs.
The national average for a gallon of gas is closing in on $5 dollars per gallon and it's putting pressure on already strained budgets. The summer travel season could stall out before it even gets started. Cheddar's Shannon Lanier has some great hacks to help you save a few bucks at the pump.
Lower Manhattan's iconic Stone Street is getting a bubbly makeover. Champagne Nicolas Feuillatte will be 'unleashing the bubbles' throughout the month of June in New York City, with themed events, bubble ball pits, and special menu and drink experiences. Anne-Laure Domenichini, director of communications for Champagne Nicholas Feuillatte, joins Cheddar News' Closing Bell to discuss.
Alex Gladstein, Chief Strategy Officer for the Human Rights Foundation, joins Closing Bell, where he explains where tech experts are getting it wrong when they call crypto risky and unproven. He also stresses the importance of crypto and points to how Ukraine was able to use Bitcoin during the onset of the Russian invasion.
API platform RapidAPI recently became a unicorn with a $1 billion valuation after raising $150 million in a Series D funding round led by Softbank Vision Two Fund. Microsoft's Venture Fund, M12, and Andreessen Horowitz also participated. RapidAPI says it provides the world's largest API hub which enables millions of developers and companies to build software faster. Iddo Gino, founder and CEO of RapidAPI, joins Cheddar News' Closing Bell to discuss.
The PGA Tour has announced that it will suspend players that are competing in the LIV Golf event that teed off today. At least 17 players, including names like Phil Mickelson, Dustin Johnson, and Sergio Garcia are banned from the PGA Tour competition. Hilary Fordwich, a business analyst and golf expert, joined Cheddar News to discuss why the PGA had to go this route. This is a threat to the future of golf for them, and there's been many contentions about them not being fair and that this is vindictive," she said. "Don't forget, of course, they represent sort of a monopoly in the history of golf. So you've got two sides to this story. You've got those the purists, those that feel that golf should only be a certain way and that there are only these limited events that the PGA puts on. And then you've got other people who are saying … this is all about money"
