Greenland Soars on Product Developments

Greenland Technologies Holding Corporation (NASDAQ:GTEC) shares rose Wednesday, after the company announced the launch of an online EV pre-booking service for its new GEL-1800 1.8 ton Electric Loader and its GEX-8000 Electric Excavator.

The East Windsor, New Jersey-based company expects to start deliveries in August, ahead of schedule.

Greenland's GEL 1800 Electric Loader has a loading capacity of approximately 1,800 kg (approximately 3,969 lbs) and is equipped with a powerful 144 kWh lithium battery. The Company designed the GEL 1800 Electric Loader to be used in a wide range of applications, including construction, mining, farming, industrial and more.

Greenland's GEX-Electric Excavator eight-ton electric excavator has the power to get the job done without the pollution generated by traditional internal combustion engines. With no carbon emissions generated through operation the GEX-8000 is a safer option for the workplace, operators and the local community.

According to CEO Raymond Wang, "We are very excited as initial interest in our new industrial electric vehicles is very strong. We expect interest in the market will continue to grow, as we continue to introduce new EVs and further raise awareness.

"We expect these to be truly disruptive launches given there are no alternative industrial EVs on the market. Opening pre-booking will allow customers to add Greenland into their current budget cycle, while giving us added visibility as we ramp production."

Greenland Technologies is a developer and a manufacturer of drivetrain systems for material handling machineries and electric vehicles, as well as electric industrial vehicles

GTEC shares galloped 68 cents, or 7.5%, to $9.77.