The Saint-Jérôme, Que.-based electric-vehicle maker announced it would combine with Northern Genesis Acquisition, a special-purpose acquisition company that is publicly traded on the Nasdaq. It will be listed on the New York Stock Exchange under the symbol LEV. (The Logic)

Talking point: “This transaction marks an important milestone in Lion’s continued emergence as a market leader in the design, manufacturing and distribution of purpose-built, all-electric medium and heavy-duty urban vehicles,” said Marc Bédard, the company’s founder and CEO, who will maintain his position at the combined company. The pro-forma implied market capitalization of the new company is US$1.9 billion and it is expected to receive US$500 million in net cash proceeds, which will be used in part to fund a U.S.-based manufacturing facility and a battery factory. The U.S government had been lobbying it to set up the battery production facility in America, but it has since made an agreement in principle with the city that houses its headquarters to build there. Lion recently announced it would deliver 10 of its trucks to Amazon, with the first two coming this year.