Greenland Technologies (GTEC) stock jumps 75% - guess why?

Image Source: Dushlik, Shutterstock


  • Greenland Technologies Holding Corporation (GTEC) announced the launch of the GEL-1800 Electric Loader.

  • The GEL-1800 is currently available in the US market.

  • GEL-1800 Electric Loader is powered by a climate-friendly 141 kWh lithium battery.

The stocks of Greenland Technologies Holding Corporation (NASDAQ: GTEC) gained traction in the market after it announced the launch of its second, zero operating emissions of industrial electric vehicle line, the GEL-1800 Electric Loader. The stock jumped over 76% on the news.

The GTEC stock traded at US$9.1999, up 76.24% at 10:26 am ET on November 19.

Greenland Technologies is a leading Chinese machinery industrial firm and manufactures transmission and drivetrain solutions for vehicles like forklift trucks used for material handling.

Also Read: FinWise Bancorp IPO: How to buy the stock?

Friday’s announcement about the launch of its second electric vehicle line come after the successful launch of its GEF-series electric lithium forklift line.

The new GEL-1800 Electric Loader is powered by a climate-friendly 141 kWh lithium battery. The GEL-1800 is facilitated with a rapid 2-hour charge, with an operating time of nine hours on a single charge.

In addition, the firm claims that it offers answers to some major issues the modern facility managers are facing currently. The latest electric vehicle line has 60% less noise pollution, and lower operating costs compared to the diesel-powered vehicles.

Also Read: Five cybersecurity stocks to consider as ransomware threats increase

Also Read: How are US-listed Chinese stocks performing in November?

The GEL-1800 launch

Notably, the GEL-1800 is currently available in the US market for sales. Greenland CEO Raymond Wang said that GEL-1800 has come into the market in the first week of November. He added that it is a significant step and will accelerate sales.

Greenland Technologies’ stock performance, financials

Greenland has a market cap of US$106.09 million, with a P/E ratio and forward P/E one year of 8.8 and 8.03, respectively. Its EPS is US$1.06. The firm's 52-week highest and lowest stock prices were US$26.42 and US$4.50, respectively. Its share volume on November 18 was 68,753.

Meanwhile, in the third quarter of fiscal 2021, the company's revenue increased by 39.7% YoY to US$23.1 million, while its net income rose 172.5% YoY to US$1.3 million.

Also Read: How to avail Zipline, Walmart (WMT) drone delivery service


Analysts expect the company to register growth in the coming months, with the global push for clean energy to combat global warming. However, the GTEC stock ticked down 26.99% YTD.



The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use on