SOCMA and Greenland Technologies Agreed Supporting U.S. Production of Electric Industrial Vehicles

Greenland | February 18, 2021

Greenland Technologies Holding Corporation is a technology developer and is also a well-known manufacturer of electric industrial vehicles. It also has drive train systems for material handling types of machinery and vehicles. Fujian South China Heavy Machinery Manufacture Co. Ltd. ("SOCMA") is a leading company specialized in manufacturing, designing, and distributing heavy industrial machinery and vehicles. They together announced a co-operation agreement to employ SOCMA's existing supply-chain and technologies. This is to support Greenland's production of electric industrial vehicles in the United States. The agreement presents a commitment to invest in the U.S. by Greenland as a key center of innovation in the global electric vehicle market.

In the agreement, both parties aim to institute a strategic partnership to abundantly cooperate on technology sharing and supply chain management for the production of electric industrial vehicles in the U.S. SOCMA has agreed to provide and supply the materials, parts and components, and related supply chain to GTEC. This will be done for the development and manufacture of electric industrial vehicles in the U.S. SOCMA agrees GTEC shall use the relevant SOCMA technologies and patents involved in GTEC's procurement of engineering vehicle parts and materials from SOCMA free of charge. GTEC will get profit from its global business development and technology development capabilities so that it can accelerate the launch of its electric industrial vehicles globally with SOCMA’s support.

In this agreement, Raymond Wang, CEO of Greenland mentions that this is the moment of excitement to partner with SOCMA. This has created a significant hope to pursue a positive development, which will ensure the utilization of SOCMA's existing supply-chain for GTEC's U.S. production of its electric industrial vehicles.  This cooperation agreement was considered to leverage both companies' expertise, best practices, and vast proprietary knowledge for mutual benefit and enhancement of respective competitive positions.

Further, he mentions that this cooperation will accelerate electric industrial vehicle production in the United States for GTEC.  The announcement is a very important step. With the initial production of electric, GTEC's first industrial vehicle, integrating of own components are targeted between 3Q 2021 and 4Q 2021. This agreement will significantly expand GTEC's long-term growth prospects and ability to build shareholder value.


One of the challenges of designing and manufacturing medical devices is the fact that choices made in the product development effort can have a significant impact on regulatory approval lead-time, tooling complexity and cost, and production capabilities. When those choices are made by a cross-functional team that reviews potential tradeoffs there is generally the balance between features and cost.


One of the challenges of designing and manufacturing medical devices is the fact that choices made in the product development effort can have a significant impact on regulatory approval lead-time, tooling complexity and cost, and production capabilities. When those choices are made by a cross-functional team that reviews potential tradeoffs there is generally the balance between features and cost.

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