NGA + LION ELECTRIC STOCK SECURED MASSIVE CONTRACT!

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Shares of Northern Genesis Acquisition (NYSE:NGA) were trading higher on Monday. The special-purpose acquisition company (SPAC) is preparing to merge with electric-bus maker Lion Electric, which revealed in a regulatory filing last week that Amazon (NASDAQ:AMZN) has secured an option to purchase a stake in the company. Lion Electric is a small Canada-based maker of electric trucks and buses. The company agreed to merge with Northern Genesis last year in exchange for funding; the deal is expected to close by the end of March. In a Securities and Exchange Commission filing related to the merger last week, Lion Electric revealed a deal with Amazon that goes deeper than had been previously reported. The key provisions:

Lion agreed to reserve enough manufacturing capacity to deliver 500 of its electric trucks per year to Amazon from 2021 to 2025, and then either 500 trucks a year or 10% of its manufacturing capacity per year, whichever is greater, from 2026 through 2030. Amazon also has an option to purchase a 15.8% stake in Lion. Lion said last fall that it had begun delivering an order of 10 trucks to Amazon. It now appears that those 10 trucks were intended to give Amazon an opportunity to test the vehicles in service. Assuming that Amazon likes Lion's trucks and asks for all 500 per year, this will turn out to be a pretty big deal for a small start-up. It's why Northern Genesis stock rose last week and continued its run on Monday.

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