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Greenland Technologies Wins Port Of Baltimore Bid, Contributing To 15,300 Direct Jobs And $3.3 Billion In Salaries

28 September 2023

EAST WINDSOR, NJ / ACCESSWIRE / September 28, 2023 / Greenland Technologies Holding Corporation (NASDAQ:GTEC) is a leading developer of innovative solutions in the material handling industry. The company focuses on developing and manufacturing electric industrial vehicles and drive train systems that improve efficiency and reduce emissions. Its goal is to provide high-quality and sustainable solutions for the material handling industry, addressing the need for cleaner and more efficient operations.

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Greenland has emerged as the winner in a bid from Maryland's Port of Baltimore, potentially positioning itself as a key player participating in the global shift towards electrification. The company will be instrumental in Port of Baltimore's plan to electrify its port equipment. A significant component of this plan involves the integration of Greenland's cutting-edge GEL-5000 all-electric front loader.

Maryland's Port of Baltimore is a vital economic hub that generates 15,300 direct jobs and 140,000 indirect jobs, contributing substantially to the local economy. With the port's prominent position in various sectors, such as auto and light truck volume, farm and construction machinery, and imported gypsum, the decision to adopt electric vehicles marks a significant step in the global economy's transition towards more sustainable practices. The initiative is not only expected to enhance the port's environmental footprint but also generate economic benefits, as it is estimated to bring in billions of dollars in personal wages, business revenue and state and local tax revenue annually.

At the heart of this electrification effort is the GEL-5000, Greenland's 5.0-ton rated load all-electric front loader. With robust power capabilities, an operating weight of approximately 40,000 pounds, and increased payload options, the GEL-5000 offers a clean and green alternative for handling materials. Its 9 hours of operation time per charge make it a highly efficient solution for both indoor and outdoor applications.

Raymond Wang, CEO of Greenland, shared, "We are excited to be celebrating Maryland's Port of Baltimore's commitment to clean and sustainable alternatives, and its leadership in the more broad electrification of the industrial environment. When we announced our Maryland manufacturing expansion last year, our goal was to leverage the strategic location and attractive incentives to create meaningful jobs in support of a production ramp for existing customer demand and anticipated growth. We are progressing to plan and benefit from new opportunities, like Maryland's Port of Baltimore, as more and more government entities and companies seek to electrify their equipment. We believe this is just the tip of the iceberg and we look forward to capitalizing on this exciting opportunity with Maryland's Port of Baltimore, and the many new opportunities this will create for Greenland, as we benefit from the accelerating global drive to electrify equipment."

Greenland Technologies Holding Corporation's successful bid and partnership with the Port of Baltimore demonstrate its leadership in the electric vehicle industry. As the world increasingly recognizes the importance of sustainable transportation, Greenland is at the forefront, providing innovative solutions that align with global sustainability goals.

Featured photo courtesy of Greenland Technologies Holding Corporation.

Contact:

Josh Centanni
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