JUSTIN,
Texas, Aug. 23, 2022 /PRNewswire/ -- Within
two weeks of signing an agreement to purchase 4,500 vehicles, Canoo
(NASDAQ: GOEV), & Walmart (NYSE: WMT) InHome launched advanced
deliveries to finalize their unique configuration for their
Lifestyle Delivery Vehicles (LDV) order. Canoo LDV's were deployed
for real world deliveries in a 7-days-a-week program in the
Dallas Fort Worth metroplex (DFW).
InHome delivery is an optional add-on for Walmart+ members offering
unlimited delivery from Walmart stores to their door and
beyond.
"It's been awesome to work with Walmart's highly experienced
team to rapidly deploy our LDV's in real world use cases to
finalize a configuration for Walmart," said Tony Aquila, Investor,
Chairman & CEO at Canoo. "Our LDV has been engineered to enable
a wide range of package deliveries, including refrigerated items,
groceries and general merchandise – and do it efficiently, emission
free and with a high level of driver comfort and ergonomics. And we
have been turning a lot of heads in the neighborhoods when driving
by in our uniquely identifiable vehicles."
The LDV: Modular and engineered
for industry leading ROI
The LDV is built on Canoo's proprietary multi-purpose platform
(MPP) architecture that integrates the motor, battery module,
critical driving components and proprietary flat leaf spring
suspension. This platform is the foundation for all Canoo vehicles
and enables more usable space for the cabin and cargo area. The LDV
is engineered for high frequency stop-and-go deliveries and rapid
vehicle to door drop-off, including grocery and food/meal delivery.
The interior is customized to Walmart's specific use-case at
competitive per stop economics. The modular design and 120 cubic
feet of cargo volume that's adaptable to evolve with Walmart's
business strategy including its focus to become a regenerative zero
emissions company by 2040.
Engineered with the driver in mind, the modular vehicle is
designed for swift loading and unloading. The smaller footprint,
tight turning radius and ease of maneuverability support narrow
roads and driveway parking making the LDV ideal for new and veteran
delivery drivers.
Canoo and Walmart recently announced an agreement to purchase
4,500 all-electric delivery vehicles, beginning with the 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.
About Canoo
Canoo's mission is to bring EVs to Everyone. The company has
developed breakthrough electric vehicles that are reinventing the
automotive landscape with bold innovations in design, pioneering
technologies, and a unique business model that spans the full
lifecycle of the vehicle. Distinguished by its experienced team
from leading technology and automotive companies – Canoo has
designed a modular electric platform purpose-built to deliver
maximum vehicle interior space that is customizable across all
owners in the vehicle lifecycle to support a wide range of vehicle
applications for consumers and businesses.
Canoo has teams in California,
Texas, Oklahoma, and Arkansas. For more information, visit
www.canoo.com. For Canoo press materials, including photos, visit
press.canoo.com. For investors, visit
investors.canoo.com.
About
Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save
money and live better — anytime and anywhere — in retail stores,
online, and through their mobile devices. Each week, approximately
230 million customers and members visit more than 10,500 stores and
clubs under 46 banners in 24 countries and eCommerce websites. With
fiscal year 2022 revenue of $573
billion, Walmart employs approximately 2.3 million
associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting
corporate.walmart.com, on Facebook
at facebook.com/walmart and on Twitter
at twitter.com/walmart.
Forward-Looking
Statements
The information in this press release includes "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the United States Private Securities Litigation Reform Act of 1995.
Forward- looking statements may be identified by the use of words
such as "estimate," "plan," "project," "forecast," "intend,"
"will," "expect," "anticipate," "believe," "seek," "target" or
other similar expressions that predict or indicate future events or
trends or that are not statements of historical matters. These
forward-looking statements include, but are not limited to,
statements regarding estimates and forecasts of financial and
performance metrics, expectations and timing related to commercial
product launches and the achievement of operational milestones,
including the ability to meet and/or accelerate anticipated
production timelines, Canoo's ability to capitalize on commercial
opportunities, current or anticipated customer orders, and
expectations regarding the development of facilities. These
statements are based on various assumptions, whether or not
identified in this press release, and on the current expectations
of Canoo's management and are not predictions of actual
performance. These forward-looking statements are provided for
illustrative purposes only and are not intended to serve as, and
must not be relied on by any investor as, a guarantee, an
assurance, a prediction or a definitive statement of fact or
probability. Actual events and circumstances are difficult or
impossible to predict and will differ from assumptions. Many actual
events and circumstances are beyond the control of Canoo. These
forward-looking statements are subject to a number of risks and
uncertainties, including changes in domestic and foreign business,
market, financial, political and legal conditions; Canoo's ability
to access future capital, via debt or equity markets, or other
sources; the rollout of Canoo's business and the timing of expected
business milestones and commercial launch; future market adoption
of Canoo's offerings; risks related to Canoo's go-to-market
strategy and manufacturing strategy; the effects of competition on
Canoo's future business, and those factors discussed under the
captions "Risk Factors" and "Management's Discussion and Analysis
of Financial Condition and Results of Operations" in Canoo's Annual
Report on Form 10-K for the fiscal year ended December 31, 2021 filed with the U.S. Securities
and Exchange Commission (the "SEC") on March
1, 2022, as well as its past and future Quarterly Reports on
Form 10-Q and other filings with the SEC, copies of which may be
obtained by visiting Canoo's Investors Relations website at
investors.canoo.com or the SEC's website at www.sec.gov. If any of
these risks materialize or our assumptions prove incorrect, actual
results could differ materially from the results implied by these
forward-looking statements. There may be additional risks that
Canoo does not presently know or that Canoo currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In addition,
forward-looking statements reflect Canoo's expectations, plans or
forecasts of future events and views as of the date of this press
release. Canoo anticipates that subsequent events and developments
will cause Canoo's assessments to change.
However, while Canoo may elect to update these forward-looking
statements at some point in the future, Canoo specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Canoo's assessments as of
any date subsequent to the date of this press release. Accordingly,
undue reliance should not be placed upon the forward-looking
statements.
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SOURCE Canoo