Canoo Shares Up on Walmart Order for 4,500 Electric Vans

Canoo, a struggling EV startup, received a significant order for 4500 vans from Walmart, boosting its shares. Despite past challenges, this order could change Canoo's outlook. However, the agreement allows Walmart to cancel with 30 days' notice, and Canoo lacks a clear manufacturing strategy. The competition in the EV market is intense, with companies like Rivian also securing large orders. The focus on consumer EVs often overshadows the need for commercial vehicles like vans and trucks.

What is the significance of the Up Summit conference mentioned in the text?

How does Canoe's situation compare to Rivian's in terms of production capabilities?