Greenland Technologies Operations Unaffected by Francis Scott Key Bridge Collapse in Baltimore, MD; Company Reaffirms April 2024 Sales Delivery Plan

News provided by

Greenland Technologies Holding Corporation

Apr 01, 2024, 07:00 ET

EAST WINDSOR, N.J., April 1, 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, issued the following comment on Baltimore's Francis Scott Key Bridge collapse.

Raymond Wang, CEO of Greenland, commented, "Our heartfelt thoughts and condolences go out to the families, the greater Baltimore community, and the heroic emergency responders affected by this unthinkable tragedy. Although our operations remain unaffected at present, we are closely monitoring the situation regarding our supply chain in light of the port closure. We are prepared to assess contingency options, such as utilizing alternative ports, if necessary, to minimize any disruptions to our supply chain and uphold our commitments to customers."

Greenland reaffirmed its plan 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 delivery is 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.

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.

SOURCE Greenland Technologies Holding Corporation