Why it matters: Farmers, contractors and delivery companies — not individual consumers — will lead America into the EV era, Axios' Joann Muller wrote earlier this year.
Using EVs for last-mile deliveries will help Walmart get closer to its goal of zero emissions by 2040.
The intrigue: The agreement may provide Canoo some needed juice.
The company warned investors in May that "substantial doubt exists about the company's ability to continue as a going concern." But its share price soared on yesterday's news.
Zoom in: Walmart will begin with Canoo's Lifestyle Delivery Vehicle (LDV).It's designed for small package delivery and has 120 cubic feet of cargo space.
That's comparable to a 2021 Chevy Tahoe, Ford Expedition Max or Toyota Sequoia.
We also noticed that under the terms of the purchase agreement with Walmart, Canoo must refrain from any business whatsoever with Amazon or its subsidiaries.