- Lithium Battery Forklift Available for Sale in the U.S. in
July 2021
EAST WINDSOR, N.J.,
June 21, 2021 /PRNewswire/ --
Greenland Technologies Holding Corporation (NASDAQ: GTEC)
("Greenland"), a technology
developer and manufacturer of electric industrial vehicles and
drivetrain systems for material handling machineries and vehicles,
today announced a major strategic partnership with Shandong
Zhongcha Heavy Industry Machinery Co. ("Shandong"), a multinational heavy machinery
and automotive manufacturing company.
The partnership is structured to accomplish two strategic
objectives to drive revenue generation and to enhance leadership
position as a first mover. First, the companies are joining
forces to launch a lithium battery forklift, which utilizes
Greenland's new integrated
drivetrain system that will be available for sale in the U.S. by
Greenland starting in July
2021. Second, the two strategic partners will combine R&D
resources to develop the next stage of lithium powered forklifts to
ensure they remain positioned for market leadership over the longer
term.
Headquartered in Jinan,
Shandong, China, Shandong Zhongcha Heavy Industry
Machinery Co. was founded in 2009 through a merger between Weichai
Holding Group, Shandong Construction Machinery Group and Shandong
Auto Industrial Group. Shandong Heavy Industry has five
principal operating subsidiaries: Weichai Holding Group Co., Ltd.
(the parent company of Weichai Power), Shantui Construction
Machinery Co., Ltd., Shantui Machinery Co., Ltd., Shanzhong
Construction Machinery Co., Ltd., and Shandong Auto Industry Group
Co., Ltd., Shazhonng Construction Machinery.
Raymond Wang, CEO of Greenland, commented, "This is another major
development for our business, as we align with a powerful,
well-funded strategic partner with extensive experience and
customer relationships in our target markets. We have already
spoken with numerous customers with very positive feedback for a
lithium battery forklift solution. Importantly, we are confident we
can bring our jointly-developed lithium battery powered forklift to
market at a price point competitive with legacy acid battery
powered vehicles. The competitive price point combined with
the fact our vehicle is a safer, cleaner vehicle with a higher
customer return on investment than traditional forklifts, gives us
a winning market position with high-volume potential. We look
forward to working together with Shandong, as we build a mutually successful,
long-term partnership."
About Greenland Technologies Holding Corporation
Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a
developer and a manufacturer of drivetrain systems for material
handling machineries and electric vehicles, as well as electric
industrial vehicles. For more information visit
www.gtec-tech.com.
Forward-Looking Statements
This press release contains statements that may constitute
"forward-looking statements." Such statements reflect Greenland's current views with respect to
future events and are subject to such risks and uncertainties, many
of which are beyond the control of Greenland, including those set forth in the
Risk Factors section of Greenland's Annual Report on Form 10-K and
Definitive Proxy Statement on Schedule 14A filed with the
Securities and Exchange Commission ("SEC"). Copies are available on
the SEC's website, www.sec.gov. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "continue," and similar expressions are intended to
identify such forward-looking statements. These forward-looking
statements include, without limitation, Greenland's expectations with respect to
future performance. In addition, there is uncertainty about the
further spread of the COVID-19 virus or the occurrence of another
wave of cases and the impact it may have on the Company's
operations, the demand for the Company's products, global supply
chains and economic activity in general. Should one or more of
these risks or uncertainties materialize, or should assumptions
underlying the forward-looking statements prove incorrect, actual
results may vary materially from those described herein as
intended, planned, anticipated or expected. Statements contained in
this news release regarding past trends or activities should not be
taken as a representation that such trends or activities will
continue in the future. Greenland
does not intend and does not assume any obligation to update these
forward-looking statements, other than as required by law.
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SOURCE Greenland Technologies Holding Corporation