CNBC headline: Shares of EV maker Canoo surge after Walmart agrees to buy 4,500 electric delivery vans
PUBLISHED TUE, JUL 12 20227:50 AM EDTUPDATED TUE, JUL 12 20224:04 PM EDT
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 gained more than 50% following the news.
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.