Canoo Walmart deal for 4,500 vans sends EV stock jumping


Walmart to Purchase 4,500 Canoo Electric Delivery Vehicles to be Used for Last Mile Deliveries in Support of Its Growing eCommerce Business

Courtesy: Canoo | Walmart

Electric vehicle startup Canoo said Tuesday Walmart has agreed to buy at least 4,500 of its upcoming electric delivery vans, in a significant win for the embattled vehicle maker.

Shares of Canoo were up more than 70% in early trading after the news was announced.

Walmart has signed a “definitive agreement” to purchase at least 4,500, and possibly as many as 10,000, of its all-electric Lifestyle Delivery Vehicles, a small electric van designed for local delivery service, Canoo said.

Walmart is leaning on its thousands of stores to…


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