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.
Despite headwinds from COVID-19, Omni Hotels and Resorts has been able to stay on track, with many new properties in the works. The hotel and resorts chain has also seen a 50% uptick in revenue across all of its locations compared to its levels in 2019. Peter Strebel, President & CEO of Omni Hotels & Resorts, joined Cheddar to talk about how Omni was able to emerge from the pandemic stronger than ever, and give insight into the expected summer travel surge.
Keri Miller, HOA Treasurer at Mallard Creek, and Mike Hunter, Attorney at Offit Kurman, discuss how residents feel about the rise in corporate rentals and what is being done to curtail the short-term rentals trend.
Rick Tumlinson, Founding Partner of SpaceFund, discusses the industries driving the space economy and what should investors look for when investing in space companies.
Elon Musk is set to join Twitter's board of directors. This comes shortly after the Tesla CEO purchased a 9.2% stake in Twitter, sending shares surging as much as 27% and making him the largest shareholder in the social media company. Angelo Zino, Senior Industry Analyst at CFRA Research, joined Cheddar's Opening Bell to gives his take on the social media saga.
President Biden has announced a historic release of oil from the U.S. reserves in an attempt to cut down surging gas prices across the country. The administration will release 1 million barrels of oil per day for the next six months, marking the largest withdrawal in the nearly 50-year history of the country's emergency supply of oil. Patrick DeHaan, Head of Petroleum Analysis at GasBuddy, breaks down why the Biden administration is making this unprecedented move, and what impact it could have on prices at the pump.
Rhea Thomas, Senior Economist at Wilmington Trust, breaks down the highlights from the latest jobs report and discusses how inflation could impact economic growth.
American gas stations are massive and only getting bigger. That's because most chains like Wawa, Sheetz, and Buc-ee's sell way more than just gas. So when and why did gas stations change from single-pump service garages to supersized, all-in-one travel hubs?
