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 Federal Reserve launched a high-risk effort to tame the worst inflation since the 1970s, raising its benchmark short-term interest rate and signaling potentially up to seven rate hikes this year.
Lisa Whalen, managing director of automotive and mobility analysis at Morning Consult, joins Cheddar News to discuss Uber and Lyft's decision to enact price surcharges on riders.
With a zero-covid policy in China, country officials are imposing lockdowns in the region in an attempt to control the spread. With China being home to about one-third of global manufacturing, these lockdowns are wreaking havoc on the already fragile supply chain, causing disruption to production of phones and cars alike. Suketu Gandhi, Supply Chain Partner at Kearney joined Cheddar's Azia Celestino to discuss.
Brian Napack, President & CEO of Wiley, discusses the ways COVID-19 and remote learning is impacting growth, and talks about how Wiley is capitalizing from the trends seen in their corporate clients.
Markets opened higher this morning as oil prices fall and investors await a decision from the Federal Reserve. Keith Fitz-Gerald, Chief Investment Officer, Fitz-Gerald Group joined Cheddar's Opening Bell to discuss.
Tommy Mancuso, President & Co-Founder of the BAD Investment Company, talks about the likelihood of the Fed decision's decision triggering a recession and the war Ukraine is impacting U.S. investors.
Scott Ladner, CIO at Horizon Investments, breaks down the latest geopolitical risks for U.S. investors and how oil in the near term may push higher amid the commodity supply shock.
