Walmart signs deal with Canoo to buy 4500 EVs for electrifying its delivery fleet
Walmart Inc (NYSE: WMT) has signed a deal with Canoo Inc (NASDAQ: GOEV) to buy 4,500 electric vans as part of the US retailer’s goal to attain net-zero emissions by 2040
By Arghyadeep Dutta
Published - Jul 12, 2022, 05:28 PM ET
Last Updated - Mar 11, 2024, 10:30 AM EDT
• Walmart said it expects Canoo EVs to go into service in 2023
Walmart Inc (NYSE: WMT) has signed a deal with Canoo Inc (NASDAQ: GOEV) to buy 4,500 electric vans as part of the US retailer’s goal to attain net-zero emissions by 2040.
The retail giant will receive the first Canoo’s Lifestyle Delivery Vehicle, which Walmart expects to hit the road for deliveries in 2023. The company also said it had the option to purchase up to 10,000 units as it electrifies its delivery fleet.
Shares of Canoo doubled early in the morning but closed at $3.66, more than 50% higher than Monday’s closing price.
