PRESS RELEASE: GOVERNOR LARRY HOGAN ANNOUNCES GREENLAND TECHNOLOGIES SELECTS BALTIMORE COUNTY FOR MANUFACTURING EXPANSION

GOVERNOR LARRY HOGAN ANNOUNCES GREENLAND TECHNOLOGIES SELECTS BALTIMORE COUNTY FOR MANUFACTURING EXPANSION

Company will move forward with new facility in White Marsh

BALTIMORE, MD (May 16, 2022) – Governor Larry Hogan today announced that Greenland Technologies Holding Corporation, a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles, has selected Baltimore County for the next phase of the company’s major U.S. expansion. Greenland conducted a comprehensive national selection process before selecting Maryland earlier this year, and Baltimore County was selected after a review of multiple criteria including location, workforce, incentives, and logistics.

With the formal selection, Greenland plans to now move forward with an approximately 50,000 square-foot manufacturing facility located at 5301 Nottingham Drive in White Marsh, where it plans to steadily create new full-time jobs. The facility, which is expected to formally open this July, is central to the company’s strategy of supporting the increased customer demand for its expanding line of electrical industrial vehicles.

“We welcome Greenland Technologies’ new U.S. manufacturing operations to Maryland, and are thrilled to see the company’s vision come to life at its location in Baltimore County,” said Governor Larry Hogan. “Greenland’s innovative technologies will allow the company to easily make its mark in the Mid Atlantic and continue growing its presence throughout the nation.”

Established in 2006, Greenland has become one of the world’s largest transmission and drivetrain systems providers for material handling equipment such as forklift trucks that are used in industrial and logistic settings. Greenland Technologies investments in R&D and its successful track record of innovation have established it as a cutting edge, clean energy technology developer, with a proven commitment to embracing the electrification process and incorporating it into the electric industrial vehicle market.

“We are excited and confident in our decision to build out in Maryland given our extensive selection process. As we have moved forward, our selection has been validated each step of the way,” said Raymond Wang, CEO of Greenland. “The Governor’s team and local officials clearly share in our vision and enthusiasm for electrification and understand the positive implications on job creation, economic benefit and to Greenland specifically. Having such committed and supportive partners is essential to our long-term success and ability to quickly ramp our new manufacturing facility in support of the strong customer demand for our industrial electric vehicles.”

To support its expansion, the company has submitted a notice of intent to utilize the state’s More Jobs for Marylanders program, administered by the Maryland Department of Commerce. The More Jobs for Marylanders program incentivizes new and existing manufacturers to create new jobs in the state, and to non-manufacturers that locate or expand in Maryland Opportunity Zones.

“Attracting international companies such as Greenland Technologies to Maryland is an important part of increasing and refining our state’s global reach,” said Maryland Commerce Secretary Mike Gill. “Our team is delighted to welcome this innovative company to our state and we look forward to watching Maryland’s manufacturing sector continue thriving.”

“We continue working toward a cleaner, greener and more sustainable Baltimore County, and electric machinery and vehicles are a critical part of that future,” said County Executive Johnny Olszewski. “Greenland Technologies’ choice to manufacture its electric industrial vehicles in White Marsh is creating a win-win scenario; new clean energy options for construction projects as well as jobs for our residents. We look forward to welcoming Greenland Technologies to Baltimore County’s thriving business community.”

About Maryland Commerce

The Maryland Department of Commerce stimulates private investment and creates jobs by attracting new businesses, encouraging the expansion and retention of existing companies, and providing financial assistance to Maryland companies. The Department promotes the State’s many economic advantages and markets local products and services at home and abroad to spur economic development and international investment, trade and tourism. Because they are major economic generators, the Department also supports the arts, film production, sports and other special events. For more information, visit commerce.maryland.gov.

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. For more information visit https://ir.gtec-tech.com/.