Canoo nasdaq Goev Stock Jumps Double Digits After Zeeba's Ev Fleet Expansion

Canoo (NASDAQ: GOEV) Stock Jumps Double Digits After Zeeba’s EV Fleet Expansion

Canoo (NASDAQ: GOEV) shares climbed over 13% on Wednesday following the successful expansion of Zeeba’s fleet with electric vehicles.

Canoo (GOEV) has just revealed that it’s adding a fleet of electric vehicles (EVs) to Zeeba, a national fleet management company.

This announcement pertains to an existing contract with Zeeba, which has received an allocation of 5,450 electric vehicles. The agreement includes a firm commitment to provide 3,000 Lifestyle Delivery Vehicle (LDV) EVs for its nationwide fleet.

Tony Aquila, who holds the positions of Investor, Executive Chairman, and CEO at Canoo, has indicated that their collaboration with Zeeba represents a significant advancement in the transition towards electric vehicles within commercial fleets across the United States. He further highlighted that electric vehicles are ideally suited for this purpose.

He further stated,

“With an impressive revenue growth, Zeeba has increased its number of clients by 10 times in the last two years and has a large backlog of clients waiting for Canoo vehicles. We are excited to work with a dynamic, skilled team that is expanding its national fleet.”

Kayvon Marashi, the Chief Executive Officer at Zeeba, expressed excitement over the prospect of incorporating Canoo vehicles into their fleet. Marashi highlighted the high demand, with more than 1,000 clients eagerly anticipating the addition of Canoo electric vehicles (EVs). Marashi highlighted that the Canoo Light Duty Vehicles (LDVs) offer an ideal mix of efficiency, comfort, and functionality, making them a transformative solution for fleets of varying sizes.

Canoo (NASDAQ: GOEV) Stock Price Action

GOEV stock surged 13.26% on Wednesday. The traders had exchanged hands with 92,064,781 (92.06 million) shares compared to the average daily trading volume of 44.82 million.