EAST
WINDSOR, N.J., March 21,
2024 /PRNewswire/ -- Greenland Technologies
Holding Corporation (Nasdaq: GTEC) ("Greenland" or the "Company"), a technology
developer and manufacturer of electric industrial vehicles and
drivetrain systems for material handling machineries and vehicles,
today announced that it plans to make an initial sales delivery in
April 2024 to Maryland's Port of Baltimore of the Company's HEVI GEL-5000
all-electric front loader. The sales are part of a bid Greenland won in 2023, under which
Greenland will help facilitate the
Port of Baltimore's ambitious plan
to electrify port equipment.
Maryland's Port of Baltimore generates about 15,300 direct jobs,
with nearly 140,000 jobs overall linked to Port activities. The
Port is first among the nation's ports for autos and light truck
volume, roll on/roll off farm and construction machinery and
imported gypsum. The Port is responsible for nearly $3.3 billion in personal wages and salaries,
$2.6 billion in business revenue and
$395 million in state and local tax
revenue annually. The Port of Baltimore offers the deepest harbor in
Maryland's Chesapeake Bay. Closer to the Midwest than any
other East Coast port, the Port in Baltimore City also is within an overnight
drive of one-third of the nation's population.
Raymond Wang, CEO of Greenland, commented, "We are firmly on track
for the initial sales delivery in April
2024 to Maryland's Port of
Baltimore. This represents another
major development for our company, as we benefit from the broader
electrification of the industrial environment. State and local
government agencies worldwide are championing attractive incentives
for manufacturers and customers of sustainable products, including
our industrial EVs. With our production, sales and support
infrastructure fully in place, we expect to now move to meaningful
revenue growth in 2024."
The HEVI GEL-5000 was purpose-designed to not only improve
working conditions for operators but also significantly reduce the
cost of ownership. The HEVI GEL-5000 is a 5.0 ton rated load
all-electric lithium wheeled front loader that boasts strong power,
approximately 40,000 pounds operating weight and increased payload
options, making it a clean, green front loader with 9 hours of
operation time per charge. The all electric front loader sets new
standards, offering operators numerous advantages, such as
simplicity in maintenance, zero operating emissions, and an
enhanced overall experience, making it ideal for both indoor and
outdoor usage, including construction, mining, agriculture,
industrial, urban construction, waste management, property
management and more. Customers can learn more about the HEVI
GEL-5000 Electric Wheel Front Loader or schedule a demo at
www.gethevi.com.
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. Information on the Company's clean industrial
heavy equipment division can be found at HEVI Corp.
Safe Harbor Statement
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 filed
with the U.S. 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 and Greenland's ability to deliver its HEVI
GEL-5000 all-electric front loader as anticipated. 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