Shares of Canoo are spiking this morning after the company announced that Walmart had agreed to order 4,500 electric vans from the company. The move from Walmart comes as part of its broader goal to reach net zero emissions by 2040. 

The goal is to use the vans for "last mile" deliveries, getting items from store to door. Canoo's Lifestyle Delivery Vehicle (LDV) is a commercial unit built for frequent stop-and-go travel, reporting from Axios on Tuesday morning said. 

Walmart also recently "revealed last year it was relocating its headquarters to Bentonville," the report noted. David Guggina, senior vice president of innovation and automation at Walmart U.S., commented: 

"By continuing to expand our last mile delivery fleet in a sustainable way, we're able to provide customers and Walmart+ members with even more access to same-day deliveries while keeping costs low."