I would recommend keeping an eye on NGA (Northern Genesis Aquisition Corp). As I understand it Lion Electric, rather than doing an IPO, is going to merge with NGA. Supposed to be Q1 2021. Lion mostly makes electric school buses and are supposedly a big player in that market. They have plans to expand into the U.S. market and have already supplied to some school districts. What makes it interesting to me, in addition to what they have already done and have planned, is that Amazon has bought some electric trucks from them. Only 10 for now but they upside potential with Amazon is off the charts.
Read up before you invest. They are doing a PIPE sale at $10 to raise 200mil and the current value of NGA shares is about $17.50 so there may be some funny moves initially if the shorts get involved. I'm not smart enough with these things to understand all of the implications.
TLDR: Currently NGA, will merge with Lion Electric Q1 2021 and be LEV on NYSE. Makes electric buses and trucks. Decent presence already in that arena with plans to grow. Sold some trucks to amazon, could be a foot in the door for big future deals.
Yes do indeed do due diligence on Lion. I looked into another electric bus manufacturer, GP, in some detail before I invested. Is Lion real? What are their revenues? What’s their yearly revenue growth? Etc.