Walmart’s eCommerce venture is now the second-largest in the U.S. and it keeps growing daily. The world’s largest retailer is expanding its delivery network for online orders with a new deal with Arkansas-based EV startup, Canoo, NASDAQ: GOEV.
Walmart agreed to purchase 4,500 all-electric delivery vehicles from the company. This is expected to help Walmart reach 80% of the U.S. population with same-day delivery. Canoo will start producing the EV towards the end of the year, and Walmart could increase its purchase to 10,000 units in the future. The deal also strengthens Walmart’s sustainability promise of net-zero emissions by 2040.