Canoo Secures Order with Zeeba for 3,000 Units

© Reuters.

By Michael Elkins 

High-tech advanced mobility company, Canoo (NASDAQ:GOEV) announced that they have signed an agreement with Zeeba, a growing national fleet leasing provider, for the purchase of 5,450 Canoo electric vehicles, with an initial binding commitment of 3,000 units through 2024. Zeeba will add Canoo Lifestyle Delivery Vehicles (LDV) and Lifestyle Vehicles (LV) to its long-term fleet leasing portfolio.

"We have a large committed, growing order book, are finalizing our multi-year allocations for 2023 customer deliveries and will share our manufacturing plan with the broader market shortly," said Tony Aquila, Chairman & CEO at Canoo. "This order is another milestone validating our product and strategy. Small & medium sized business (SMB) are the backbone of our communities, employing about half of all working Americans1 and they are Zeeba's target customers. We put technology first and combined class leading ergonomics, a small vehicle footprint-to-cargo ratio and platform versatility while achieving a lower carbon footprint and higher return on investment for the operator, all of which will help SMBs compete."

Zeeba estimates that the LDV and LV will be used by customers in the last-mile delivery space, mobile goods, ride hailing, food delivery, trade professions and more. This purchase is part of Zeeba's plans to achieve a minimum 50 percent electrification of its fleet by the first quarter of 2024.

Zeeba's Chief Strategy Officer, Mike Paletz commented, "The LDV & LV are going to be a game changer for businesses we serve. Canoo technology will allow our SMB customers to effectively and efficiently operate their businesses while reducing their carbon footprint. Zeeba has very ambitious electrification goals and we want to achieve leadership in fleet technology."

Shares of GOEV are up 5.88% in pre-market trading on Wednesday.