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.
Garrett Nelson, Senior Analyst and VP of Equity Research at CFRA Research, joins Cheddar News' Closing Bell, where he breaks down where automakers like Ford, Tesla, Rivian, and Lucid currently stand at the start of 2022 and what we should expect to transpire in the upcoming year.
Fintech startup Milo has launched what it says to be the world's first crypto mortgage. As part of the offering, clients will be able to use Bitcoin as collateral to purchase property and qualify for a 30-year loan. Josip Rupena, CEO and Founder of Milo, joins Cheddar News' Closing Bell, where he explains how this offering is a winning solution for crypto investors who want to invest in real estate.
Software company BigPanda recently raised $190 million in Series D funding, led by Advent International and Insight Partners. The funding round gives the company unicorn status with a $1.2 billion valuation. BigPanda develops A.I. software that detects and analyzes problems in I.T. systems. The company says it aims to be the solution for other companies that do not have enough manpower to manage their data, as more and more industries continue to build a broader digital presence. BigPanda co-founder and CEO Assaf Resnick joined Cheddar News' Closing Bell to discuss.
AT&T and Verizon have agreed to delay activating their 5G services around airports due to safety concerns. This comes after major U.S. airlines voiced their concern over the rollout of 5G technology, warning of an impending "catastrophic" aviation crisis. Hugh Odom, founder and president of Vertical Consultants, telecom expert, and former AT&T attorney, joined Cheddar Movers to discuss.
Melissa Armo, founder and CEO of The Stock Swoosh, breaks down the factors affecting profitability for banks this year and highlights opportunities within the financial sector.
While more inflation means higher prices, some businesses are looking for alternatives to avoid scaring off their customers. 'Shrinkflation,' a fancy word for downsizing, happens when companies reduce the size or quantity of their products while still charging the same prize... or even more.
Chris Markowski, 'Watchdog on Wall Street' host and president of Markowski Investments, joins Cheddar News to discuss.
