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Stock impact report

Greenland Technologies Holding Launches New Division; Company Enters the Electric Industrial Vehicle Market

Greenland Technologies Holding Corporation - Ordinary Shares (GTEC) 
Company Research Source: PR Newswire
HOWELL, N.J., Dec. 7, 2020 /PRNewswire/ -- Greenland Technologies Holding Corporation (NASDAQ: GTEC) ("Greenland"), a technology developer and manufacturer of forklift transmission and drivetrain systems, announced today the launch of a new division focused on the electric industrial vehicle market, a new market that the Company intends to develop to diversify its product offerings. The new division will leverage the Company's R&D track record, extensive intellectual property, state-of-the-art manufacturing facilities and global customer relationships to develop and deploy the next generation of electrical industrial vehicles. The new division also plans to commercialize applications utilizing the Company's new lithium-based integrated drivetrain system.Industry analysts expect the global market for material handling equipment to reach $171.1 billion by 2027, with the United States, China and Europe having a combined 66.7% share of the market, and China ranking as the fastest growing Show less Read more
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