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7/12/2022, 2:43 PM (Source: TeleTrader)
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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.

Baha Breaking News (BBN) / JN