Steering the selectivity of electrocatalysts toward the desired product is crucial in the electrochemical reduction of CO2. A promising approach is the electronic modification of the catalyst's active phase. In this work, we report on the electronic modification effects on CuO-ZnO-derived electrocatalysts synthesized via hydrothermal synthesis. Although the synthesis method yields spatially separated ZnO nanorods and distinct CuO particles, strong restructuring and intimate atomic mixing occur under the reaction conditions. This leads to interactions that have a profound effect on the catalytic performance. Specifically, all of the bimetallic electrodes outperformed the monometallic ones (ZnO and CuO) in terms of activity for CO production. Surprisingly, on the other hand, the presence of ZnO suppresses the formation of ethylene on Cu, while the presence of Cu improves CO production of ZnO. In situ X-ray absorption spectroscopy studies revealed that this catalytic effect is due to enhanced reducibility of ZnO by Cu and stabilization of cationic Cu species by the intimate contact with partially reduced ZnO. This suppresses ethylene formation while favoring the production of H2 and CO on Cu. These results show that using mixed metal oxides with different reducibilities is a promising approach to alter the electronic properties of electrocatalysts (via stabilization of cationic species), thereby tuning the electrocatalytic CO2 reduction reaction performance.