Friday, July 12, 2024

Canoo recieves major order for 9,300 electric vans from Kingbee in the USA

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Canoo received an order for 9,300 electric vans from Kingbee, a US car rental company. In the agreement signed an option to double the order to 18,600 electric vehicles. This is the third deal Canoo has announced in about three months.

Kingbee will lease Lifestyle Delivery Vehicles (LDV) Canoo as part of the fleet solution. Kingbee is known to specialize in fleets for small and medium-sized businesses with a customer base in 27 US states.

This deal is Canoo’s third in three months. Previously Canoo also received orders for 4,500 electric vehicles from retail giant Walmart with an option of 10,000 units.

A few days ago, an electric vehicle startup from California also agreed to an order for 5,450 electric vehicles from fleet rental provider Zeeba, with an initial commitment of 3,000 units by 2024.

The LDV is a cargo variant of Canoo’s Lifestyle Vehicle (LV) built on a multi-purpose platform (MPP) architecture. The vehicle uses an 80 kWh battery pack and is designed for urban environments. The vehicle offers up to 120 cubic feet (3.4 cubic meters) of cargo space.

For Canoo, a few large orders could be a lifesaver, given the company’s previous financial problems.

However, Canoo’s position of financial difficulties makes the negotiating position weaker. This is evidenced by the fact that Canoo had to swallow a few dollars for a large Walmart order in July.

Walmart could take over up to a quarter of Canoo in the future, and Canoo is not allowed to sell vehicles to Amazon during the term of the deal.

Walmart to purchase 4,500 Canoo EVs to electrify deliveries fleets

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