Canoo has signed an agreement for Zeeba to purchase 5,450 (LDVs and LVs)

by Oct 14, 2022

Earlier this week, Canoo (a leading high-tech advanced mobility company based in California) secured a major order for its Lifestyle Vehicles (LVs) and Lifestyle Delivery Vehicles (LDVs) from Zeeba (a growing national fleet leasing provider company based in Los Angeles) which has agreed to buy 5,450 Canoo electric vehicles, with an initial binding commitment of 3,000 units by 2024.
Zeeba has great electrification targets to electrify at least 50% of its fleets by the first quarter of 2024. Canoo’s LDV & LV technology will enable customers to run their operations more effectively and efficiently while lowering their carbon footprint. Customers will utilize the LDV and LV mobile goods, ride-hailing, food delivery, trade professions, and other applications.
Earlier this year in July, Walmart secured a contract with Canoo to order up to 10,000 LDVs, with prioritized deliveries beginning in the first quarter of 2023. However, Canoo, the financially struggling start-up was imposed several terms for this order that may have been hard to accept like Walmart has the option of acquiring up to a quarter of Canoo, and Canoo is not allowed to sell vehicles to Amazon for the duration of the deal.
In the United States, decarbonization of the light duty vehicle industry is a major policy priority. Light duty vehicles accounted for 58% of U.S. transportation carbon emissions in 2019. The Biden administration has set a goal of selling 50% of new vehicles that are zero-emissions by 2030. In 2019, Los Angeles establishes strong EV targets of 80% of all vehicle sales by 2028. According to the PTR database, it is expected that 92% of annual vans sales in the U.S. will be battery electric by 2028, and this agreement between Canoo and Zeeba will assist in meeting that goal.

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