(July 12, 2022) BENTONVILLE, Ark. — Walmart has signed an agreement with Canoo, a high-tech advanced mobility company, 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. The vehicles will be used to deliver online orders in a sustainable way which will also contribute to Walmart's goal to achieve zero-emissions by 2040.

While the LDV is expected to begin hitting the road in 2023, the companies plan to kick-off advanced deliveries to refine and finalize vehicle configuration in the Dallas Fort Worth metroplex in the coming weeks.

Canoo's fully electric Lifestyle Delivery Vehicle is an American-made commercial EV optimized for sustainable last mile delivery use cases. As with all Canoo vehicles, the LDV is built on a proprietary multi-purpose platform architecture that integrates the motors, battery module and other critical driving components. The LDV has a last-mile delivery optimized cabin and customized cargo space. Canoo is utilizing true steer by wire technology, reducing moving parts and cabin intrusion, resulting in more usable interior space, better driver ergonomics and the addition of a panoramic window to improve road visibility.

The LDV is engineered for high frequency stop-and-go deliveries and speedy vehicle to door drop-off, including grocery and food/meal delivery. Its customized interior is designed for small package delivery, at competitive per stop economics. The modular design and 120 cubic feet cargo volume are adaptable to evolve with customer needs which contributes to a decreasing per unit investment over time.

"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. Our LDV has the turning radius of a small passenger vehicle on a parking friendly, compact footprint, yet the payload and cargo space of a commercial delivery vehicle. This is the winning algorithm to seriously compete in the last mile delivery race, globally," said Tony Aquila, Investor, chairman and CEO of Canoo.

"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 was founded in 2017 under the name Evelozcity and is based in Bentonville, Ark.