- In order to contribute to company's goal to achieve zero-emissions by 2040, Walmart (NYSE:WMT) has signed a deal with Canoo (NASDAQ:GOEV) to purchase 4,500 all-electric delivery vehicles, beginning with the Lifestyle Delivery Vehicle (LDV), with the option to purchase up to 10,000 units.
- LDV is expected to begin hitting the road in 2023 and the companies plan to kick-off advanced deliveries to refine and finalize vehicle configuration in the Dallas Fort Worth metroplex in the coming weeks.
- Tony Aquila, Investor, Chairman and CEO of Canoo said, "Walmart's massive store footprint provides a strategic advantage in today's growing 'Need it now' mindset and an unmatched opportunity for growing EV demand, especially at today's gas prices."
- Canoo's electric vehicles will be driven used by Walmart associates to deliver online orders, from groceries to general merchandise, as well as the potential to be used for Walmart GoLocal, the retailer's delivery-as-a-service business.
- Through the expansive last mile delivery network, Walmart (WMT) can reach 80% of the U.S. population with same-day delivery on a growing assortment of items.
- Canoo anticipates starting production of the Lifestyle Delivery Vehicles beginning in Q4, 2022.
- GOEV shares up 72% PM.
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