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, and Lonking Holdings Limited (“Lonking”, Hong Kong Stock Market ticker 3339.hk), one of the world’s largest construction machinery manufacturers with full year 2023 reported sales of approximately US$1.5 billion, today announced a strategic partnership aimed at revolutionizing the heavy machinery industry in the United States. The collaboration will see the two companies combining their expertise to develop cutting-edge electric machinery under Greenland’s popular HEVI brand, catering specifically to the needs of the U.S. market.

This partnership brings together Greenland’s extensive experience in electric vehicle technology and Lonking’s leadership in heavy machinery manufacturing. By leveraging their respective strengths, the companies intend to introduce a new line of electric-powered heavy machinery that meets the demands for sustainability, efficiency, and performance in the U.S. construction and industrial sectors.

“We are excited to be partnering with Lonking as we pave the way for the future of heavy machinery in the United States,” commented Raymond Wang, CEO of Greenland. “Lonking is a renowned manufacturer of heavy machinery, known for its commitment to quality, reliability, and innovation. With decades of experience in the industry and dedication to delivering superior models to its customers worldwide, we share in our focus on innovation and environmental responsibility. This partnership represents another major step forward in our commitment to sustainable innovation, as we continue to set new standards in the industry with our HEVI brand.”

“We are proud to partner with HEVI to bring forth a new era of electric heavy machinery,” added Will Wan, Regional Director of North America of Lonking. “HEVI has established itself as a leading provider of electric heavy equipment in the United States market, specializing in sustainable solutions for industrial applications. By combining our expertise, we aim to deliver innovative solutions that not only meet the needs of our customers but also contribute to a sustainable future.”

Through this collaboration, both companies aim to address the growing demand for environmentally friendly solutions in the U.S. market. By transitioning towards electric-powered machinery, they seek to help customers reduce carbon emissions, enhance operational efficiency, and provide operators with advanced technology for improved productivity and performance – all while reducing total cost of ownership and maintenance.

The development of heavy electric machinery under the HEVI brand underscores the commitment of both companies to environmental stewardship and technological advancement. With a focus on innovation, quality, and customer satisfaction, Greenland and Lonking are poised to redefine the landscape of the U.S. heavy machinery market.