Financial problems have plagued Canu's future to the point where analysts were wondering whether the company would file for a restructuring or be bought out by a competitor.
Canoo posted a net loss of $125.4 million for the first quarter, up from $15.2 million in the first quarter of 2021.
The company said retail giant Walmart has placed an order for 4,500 of its electric vans. According to Canu, the Bentonville, Ark., retail giant has an option for thousands more vans.
Will order merchandise online, and has the potential to be used for Walmart Golocal, the retailer's delivery-as-a-service business.
Among its vast array of e-commerce services, Walmart offers InHome, which delivers groceries directly to customers' fridges and freezers.
Established in 2017, Canoo develops electric vehicles. One of its creations is the Lifestyle, an innovative minivan whose prototype was unveiled in 2019.