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.
Carlo and Baker cover the latest developments after a devastating tornado outbreak over the weekend, plus an eye on Omicron and inflation, and not even Spielberg can save the box office.
Reusable rocket developer Stoke Space Technologies raised $65 million in a Series A round led by Breakthrough Energy Ventures, a firm founded by Bill Gates. Stoke says its reusable rockets provide the satellite industry with low-cost, on-demand access to and from orbit. As companies like SpacX and Blue Origin are also making commitments to rocket reusability, Stoke says it is taking a different approach with a system designed to be 100% reusable, comprised of rockets designed to fly daily, like an airplane. Stoke co-founder and CEO Andy Lapsa joins Cheddar News' Closing Bell to discuss.
Humans are set to return to a place we have not been in nearly 50 years: the moon. NASA's Artemis program is expected to have astronauts back on the lunar surface by 2025. NASA says it will use what it learns on the moon to take the next giant leap - sending the first astronauts to Mars. The Artemis program also includes contributions from private companies like SpaceX, as well as academic research institutions like Georgia Tech. Georgia Tech professor of practice and former NASA astronaut Sandra Magnus joins Future of Space: Humankind's Leap Forward to discuss.
Stocks were under pressure Monday amid investor skittishness over the COVID-19 omicron variant, as cases rise in metropolitan areas like New York, shutting down businesses and seasonal events. This comes after last week's Federal Reserve announcement when Chairman Jerome Powell said the central bank would begin speeding up its asset tapering timeline while planning to institute three interest rate hikes next year. Is that decision still in line with what could happen if omicron becomes a major concern? Phil Levy, Chief Economist at Flexport, joins Cheddar News' Closing Bell to discuss.
