TELETRADER News
7/12/2022, 2:43 PM
(Source: TeleTrader)
Canoo-6.85%
Wal-Mart Stor...+0.27%
Walmart orders 4,500 EVs from Canoo, shares soar 70%
United States retailer Walmart Inc. announced on Tuesday that it reached an agreement to buy 4,500 electric vehicles from Canoo Inc. as part of the company's goal to become carbon-neutral by 2040.
Canoo's shares jumped by 66.24% in the premarket trading at 8:39 am ET to sell for $3.99 per share. Walmart also stated that it left an option to buy up to additional 10,000 electric vehicles as a part of its long-term green goals.
The financial terms of the agreement were not disclosed.