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{"id":9828,"date":"2022-07-13T14:55:16","date_gmt":"2022-07-13T14:55:16","guid":{"rendered":"https:\/\/scienceandnerds.com\/2022\/07\/13\/canoo-gets-lifeline-from-walmart-after-moving-hq-to-the-retailers-neck-of-the-woods\/"},"modified":"2022-07-13T14:55:17","modified_gmt":"2022-07-13T14:55:17","slug":"canoo-gets-lifeline-from-walmart-after-moving-hq-to-the-retailers-neck-of-the-woods","status":"publish","type":"post","link":"https:\/\/scienceandnerds.com\/2022\/07\/13\/canoo-gets-lifeline-from-walmart-after-moving-hq-to-the-retailers-neck-of-the-woods\/","title":{"rendered":"Canoo gets lifeline from Walmart after moving HQ to the retailer\u2019s neck of the woods"},"content":{"rendered":"

Source: https:\/\/www.theverge.com\/2022\/7\/12\/23205701\/canoo-walmart-electric-delivery-vans-deal<\/a>
\n
<\/br><\/code><\/p>\n

\n

Walmart is here to throw a life preserver to ailing EV manufacturer<\/a> Canoo. It\u2019s taking the form of a very helpful order of 4,500 all-electric delivery vehicles from the big box retailer<\/a> \/ e-commerce giant, with the potential to buy up to 10,000. Walmart and Canoo became neighbors last year when Canoo\u2019s headquarters moved out of California and onto Walmart\u2019s turf<\/a> in Bentonville, Arkansas \u2014 but the companies did not make any public deals at the time.<\/p>\n

\u201cWe are proud to have been selected by Walmart,\u201d said Canoo chairman and CEO Tony Aquila. Aquila says that Walmart\u2019s size gives a strategic advantage in \u201ctoday\u2019s growing \u2018need it now\u2019 mindset,\u201d and combined with Canoo\u2019s American-made \u201clifestyle delivery vehicles,\u201d it has a \u201cwinning algorithm to seriously compete in the last mile delivery race, globally.\u201d Aquila was a Canoo investor before being elevated to chairman and signed on as CEO right before the company went public in 2020 by merging with a SPAC.<\/a><\/p>\n

The purchase is a step toward Walmart\u2019s claimed goal of going carbon neutral by 2040, and it\u2019ll certainly need to do more to offset the fact that it ranked as the top maritime greenhouse gas polluter<\/a> in a report on the largest importers via shipping in the US last year. But the Canoo order isn\u2019t Walmart\u2019s only EV resource \u2014 in January, it also reserved 5,000 all-electric delivery vans<\/a> from GM-backed BrightDrop. <\/p>\n

Walmart\u2019s delivery services have been growing through the pandemic, and the company says that it has the capacity to perform same-day deliveries for many products to 80 percent of the US population. With Walmart\u2019s acceleration of its InHome delivery services that include direct-to-fridge deliveries<\/a> in even more states and the push to provide its GoLocal delivery services for other companies<\/a>, it\u2019s going to need all the delivery vehicles it can get.<\/p>\n

In an earnings call in May, Canoo execs expressed doubt about its future<\/a>, but a growing relationship with Walmart might set the EV company\u2019s ship in the right direction. \u201cWe\u2019re encouraged that by being located in close proximity to the Canoo headquarters, we have the advantage to collaborate and innovate in real-time as well as the opportunity to aid in the creation of manufacturing and technology jobs here in our home state of Arkansas,\u201d said Walmart SVP of innovation and automation David Guggina.<\/p>\n

Canoo began as a California start-up, Evelozcity, in 2017<\/a>, and soon after it was renamed in 2019<\/a>, it revealed the VW-style microbus EVs<\/a> it planned to make available through a subscription. The company has gone through a lot since then, shedding a deal<\/a> with Hyundai, losing executives<\/a>, and not only missing out on a deal with Apple<\/a> but also losing its former CEO and co-founder to Apple<\/a>. And today, a report from Bloomberg<\/em> reveals Canoo had a battery fire incident<\/a> that set a company trailer ablaze \u2014 its second fiery incident<\/a> within a year. This company sometimes feels a little on fire, in a very bad way. Maybe it can keep some of those fires at bay with this latest cash from Walmart.<\/p>\n<\/div>\n


<\/br><\/code><\/p>\n

Source: https:\/\/www.theverge.com\/2022\/7\/12\/23205701\/canoo-walmart-electric-delivery-vans-deal<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: Walmart is here to throw a life preserver to ailing EV manufacturer Canoo. It\u2019s taking the form of a very helpful order of 4,500 all-electric delivery vehicles from the big box retailer \/ e-commerce giant, with the potential to buy up to 10,000. Walmart and Canoo became neighbors last year when Canoo\u2019s headquarters moved […]<\/p>\n","protected":false},"author":1,"featured_media":9829,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"pagelayer_contact_templates":[],"_pagelayer_content":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[17,8],"tags":[18],"class_list":["post-9828","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tech","category-technology","tag-tech"],"yoast_head":"\nCanoo gets lifeline from Walmart after moving HQ to the retailer\u2019s neck of the woods - Science and Nerds<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/scienceandnerds.com\/2022\/07\/13\/canoo-gets-lifeline-from-walmart-after-moving-hq-to-the-retailers-neck-of-the-woods\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canoo gets lifeline from Walmart after moving HQ to the retailer\u2019s neck of the woods - Science and Nerds\" \/>\n<meta property=\"og:description\" content=\"Source: Walmart is here to throw a life preserver to ailing EV manufacturer Canoo. 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