Greenland Technologies Holding Corp., a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, entered into a strategic partnership with Chinese heavy machinery manufacturer Shandong Zhongcha Heavy Industry Machinery Co.
The agreement between the companies aims to drive revenue generation and to enhance Greenland’s leadership position as a first mover, according to the June 21 announcement.
Together, they will launch a lithium battery forklift, utilizing Greenland’s new integrated drivetrain system that will be available for sale in the U.S. starting in July. The companies will also combine R&D resources to develop the next stage of lithium-powered forklifts.
“This is another major development for our business, as we align with a powerful, well-funded strategic partner with extensive experience and customer relationships in our target markets,” said Greenland Chief Executive Officer Raymond Wang in a prepared statement. “We have already spoken with numerous customers with very positive feedback for a lithium battery forklift solution. Importantly, we are confident we can bring our jointly-developed lithium battery-powered forklift to market at a price point competitive with legacy acid battery-powered vehicles.”
“The competitive price point combined with the fact our vehicle is a safer, cleaner vehicle with a higher customer return on investment than traditional forklifts, gives us a winning market position with high-volume potential,” Wang continued. “We look forward to working together with Shandong, as we build a mutually successful, long-term partnership.”