Greenland Technologies Holding Corporation announced on May 21 that it had signed a new distribution agreement with a minimum potential market value of $5 million to $8.4 million.
In a press release, published on the 21st, the developer and manufacturer of electric industrial vehicles and transmission systems for machinery and handling vehicles underlines that this agreement gives the exclusive right to Elive Maroc to market and sell industrial electric vehicles from Greenland. in Morocco.
“This will include lithium electric forklifts, its lithium electric front loaders and its lithium electric shovels,” said the same source.
“We couldn’t have structured a better deal and we hope it will serve as a model to accelerate our sales growth around the world.” Our multi-year agreement has many benefits and we expect this to be another significant growth…for our business,” said Raymond Wang, CEO of New Jersey, USA-based Greenland Technologies Holding Corporation. -United.
“With a GDP of approximately $126 billion in 2020 (source: International Monetary Fund), Morocco ranks 5th in Africa. Morocco is a prime market ready for industrial vehicle electrification as electricity costs remain at a low market price of $0.116/kWh compared to rising diesel costs of $4.00/gal ( Source: Morocco’s Ministry of Energy Transition and Sustainable Development),” said the press release.
Much more continues the same source, the Kingdom has committed to the United Nations to reach a target of 80% use of renewable energies by 2050.
