Canoo, Inc. (GOEV) Soars 53% on Electric Vehicle Agreement With Walmart (WMT)
Canoo, Inc. (GOEV) skyrocketed right out of the gate today on news of a new agreement with Walmart (WMT). Per the agreement GOEV is providing 4,500 all-electric delivery vehicles to WMT. The initial vehicles being sold are the Lifestyle Delivery Vehicles that are set to be released next year. Walmart has the option to buy a total of 10,000 vehicles.
“We are proud to have been selected by Walmart, one of the most sophisticated buyers in the world, to provide our high-tech, all-electric, American made Lifestyle Delivery Vehicle to add to their impressive logistics capabilities,” Canoo (GOEV) CEO Tony Aquila 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 is a part of the PRISM EV Index, and led the pack today in gains. Overall, the PRISM EV Index is up 4.4% for the day.
Canoo’s mission is to bring EVs to Everyone. The company has developed breakthrough electric vehicles that are reinventing the automotive landscape with bold innovations in design, pioneering technologies, and a unique business model that spans the full lifecycle of the vehicle. Distinguished by its experienced team from leading technology and automotive companies – Canoo has designed a modular electric platform purpose-built to deliver maximum vehicle interior space that is customizable across all owners in the vehicle lifecycle to support a wide range of vehicle applications for consumers and businesses.
Canoo has teams in California, Texas, Oklahoma and Arkansas. For more information, please visit www.canoo.com. For Canoo press materials, including photos, please visit press.canoo.com. For investors, please visit investors.canoo.com.