Walmart Wants To Keep Amazon From Buying Canoo Electric Vehicles | Carscoops carscoops
Specifically, it says that Canoo “will not enter into any agreement for any services involving the design, manufacture, consult, advice, lease, or sale of EVs to, or issue any equity, equity-linked or debt securities of any type, or enter into any agreement for the purpose of transferring control of the Company to, Amazon.com, Inc., its subsidiaries, or affiliates.”That’s interesting considering that Amazon already has a deal with Rivian for an all-electric delivery van.
The hypermarket chain giant has also included an option to take a position in Canoo in the future. The warrant involved allows Walmart to purchase up to 61.2 million shares over the course of 10 years at an exercise price of $2.15 per share. As of this writing, Canoo is trading for $3.46.. As far as we can find, no such language in its contract with Walmart prevents GM from also selling BrightDrop vans to Amazon.
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