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.
Nexii, a company based in Canada, is getting some big backing for its sustainable, low-carbon concrete alternative. CEO Stephen Sidwell, joined Cheddar News to talk about the initiatives his company is taking to tackle climate change and scaling up production to meet demand. "Most people don’t realize it, but buildings are the number one contributor to CO2 emissions," he said. "So that's really what we're attacking, the overall CO2 emissions."
As Big Tech companies from the U.S. like Google and Apple managed to build market dominance overseas, the European Union has decided to curb what it sees as monopolistic growth. Greg Martin, the co-founder of Rainmaker Securities, joined Cheddar News to talk about how the impact of the antitrust regulations being adopted. "I think there's a lot of great outcomes here, but those will be far down the road [because] I do think there's some interoperability things that need to be worked out technologically," he said. "But it's going to be really good ultimately for the consumer in my opinion."
From Wall Street to Silicon Valley, these are the top stories that moved markets and had investors, business leaders, and entrepreneurs talking this week on Cheddar.
A month into Russia's invasion of Ukraine leading to rising gas prices and supply chain issues, the U.S. consumer is focusing on concerns over rising inflation. Jesse Wheeler, an economic analyst for Morning Consult, joined Cheddar News to talk about consumer confidence and the potential for a recession. "Consumer sentiment has really soured forecasters across the board, have lowered their expectations for real GDP growth for the U.S. this year, increased their expectations for interest rates and inflation," he said. "However, I don't think this necessarily means that we're headed for an outright recession anytime soon."
Catching you up on what you need to know on March 25, 2022, with Ukrainian forces retaking Kyiv, 300 deaths reported from the bombing of a theater used as a shelter in Mariupol, U.S. regulators ditch a climate review of natural gas projects, the 94th Academy Awards, and more.
