Greenland Technologies Holding Corporation (NASDAQ: GTEC) ("Greenland" or the "Company") today announced availability of its latest electric industrial vehicle, the GEL-5000, under the Company's new clean industrial heavy equipment brand, HEVI (www.gethevi.com).

The new GEL-5000 is a 5.0 ton rated load all-electric lithium wheeled front loader that boasts strong power, approximately 40,000 pounds operating weight and increased payload options, making it a clean, green industrial vehicle with a rapid 2 hour charge time and 9 hours of operation time per charge. With a long list of sustainability, performance, comfort, maintenance and safety features, the new GEL-5000 all electric front loader is ideal for both indoor and outdoor usage. It is perfect for on-site applications in industries ranging from agriculture, urban construction to waste management and property management. Customers can learn more about the new GEL-5000 Industrial Electric Loader or schedule a demo at www.gethevi.com.

Raymond Wang, CEO of Greenland, commented, "We are really proud of our GEL-5000, which builds upon our impressive track record of innovation. We are focused on developing the sleek, powerful, industrial electric vehicles customers want, while improving working conditions for operators and significantly reducing the cost of ownership. Our GEL-5000 once again raises the bar on what is possible, with extensive new advantages for operators, simple maintenance, zero operating emissions, and an enhanced operator experience. Most importantly, our GEL-5000 does all of this and is good for the environment without sacrificing performance."

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, its new clean electric industrial heavy equipment division.

Forward-Looking Statements

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 and Definitive Proxy Statement on Schedule 14A filed with the 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. 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.