HANGZHOU, China, Aug. 18, 2026 /PRNewswire/ -- Greenland Technologies Holding Corporation (NASDAQ: GTEC) ("Greenland" or the "Company"), a developer and manufacturer of transmission and drivetrain systems for material handling machinery and electric industrial vehicles, today announced the successful commercialization of its proprietary four-wheel drive transmission systems designed for off-road forklift truck applications.

The Company's newly introduced transmission product lineup, ranging from 1.8-ton to 10-ton models, was first launched in 2024 and has already contributed to the Company's revenue due to what the company believes are its advanced performance, durability, and operational efficiency.

Developed entirely in-house by Greenland's engineering team, the transmission systems incorporate multiple patented technologies and proprietary designs. The systems enable forklift trucks to operate effectively in rugged and off-road environments, significantly expanding applications beyond traditional warehouses and paved-surface operations.

The Company believes the growing demand for off-road material handling equipment across construction, agriculture, logistics, mining, infrastructure, and industrial sectors presents a substantial long-term market opportunity.

Following more than two years of product testing and operational validation, multiple major forklift truck OEMs have adopted Greenland's four-wheel drive transmission systems for integration into off-road forklift truck models serving both domestic and international markets.

"Our successful introduction of these proprietary four-wheel drive transmission systems represents an important strategic expansion for Greenland," said Raymond Wang, Chief Executive Officer of Greenland Technologies Holding Corporation. "As a technology-driven company, we are expanding from traditional indoor material handling applications into broader off-road industrial vehicle markets. We believe this positions us well to capitalize on growing global demand for specialized industrial equipment and strengthen our long-term growth opportunities."

The Company believes its patented technology platform and intellectual property portfolio provide competitive advantages within the emerging off-road forklift transmission market.

About Greenland Technologies Holding Corporation

Greenland Technologies Holding Corporation (NASDAQ: GTEC) is a technology developer and manufacturer of drivetrain systems for material handling machinery and electric industrial vehicles. The Company focuses on innovative transmission technologies and industrial vehicle solutions designed to improve efficiency, performance, and sustainability.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements regarding the Company's anticipated market opportunities in the off-road forklift transmission sector, expected revenue contributions from the Company's four-wheel drive transmission product lineup, OEM adoption and integration of the Company's systems, the scope and value of the Company's intellectual property portfolio, and the Company's ability to expand into broader off-road industrial vehicle markets. Actual results may differ materially from those expressed or implied due to various risks and uncertainties, including market conditions, customer adoption rates, competitive factors, the ability to protect and enforce intellectual property rights, supply chain conditions, and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the Company's Form 10-Q for the fiscal year ended December 31, 2025, filed with the Securities and Exchange Commission on March 23, 2026. Greenland undertakes no obligation to update any forward-looking statements except as required by law.