Canoo shares surge 67% in premarket on news of Walmart delivery-vehicles order
Walmart Inc. said Tuesday it is purchasing 4,500 all-electric delivery vehicles from Canoo Inc. for use in last-mile delivery. The news sent shares of Canoo up 67% in premarket trade. Walmart is also purchasing an option for up to 10,000 more units, as part of its goal of zero-emissions by 2040.
No financial terms were disclosed. Canoo is expecting to start production in the fourth quarter."The LDV is engineered for high frequency stop-and-go deliveries and speedy vehicle to door drop-off, including grocery and food/meal delivery," the companies said in a statement. The vehicles will be driven by Walmart associates...
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