HEVI Announces Appointment of Chief Operating Officer

EAST WINDSOR,N.J.,May 9,2023 -- Greenland Technologies Holding Corporation (NASDAQ: GTEC) ("Greenland" or the "Company"),a technology developer and manufacturer of electric industrial vehicles and drivetrain systems for material handling machineries and vehicles,today announced the appointment of Dana Hopkins as the Chief Operating Officer (the "COO") of HEVI Corp.,a wholly owned subsidiary of Greenland,effective March,2023. As the COO,Mr. Hopkins reports to CEO Raymond Wang and leads the development of service and sales processes as well as operational tasks.

Greenland Technologies (NASDAQ: GTEC)

Mr. Hopkins brings to Greenland nearly 30 years of leadership experience in the industrial equipment market. He has served in key roles such as COO at the Western Carolina Forklift and Toyota Material Handling Northeast along with other executive roles in companies such as Hangcha Forklift of America,The Modern Group,Pacific Material Handling Group and Eastern Lift Truck Company. Most recently,he served as Customer Experience Manager at JESCO,Inc.

Raymond Wang,CEO of Greenland Technologies commented,"We are thrilled to welcome Dana to our executive team. His extensive experience and proven track record in developing new markets,dealer networks,after market services,customer satisfaction,and managing operations will help drive Greenland's operational success and further solidify our industry-leading position."

"I am excited to join the HEVI team and look forward to contributing to the Company's growth and operational excellence," said Mr. Hopkins.

About Greenland Technologies Holding Corporation

Greenland Technologies Holding Corporation(NASDAQ: GTEC) is a developer and a manufacturer of drivetrain systems for material handling machineries and electric vehicles,as well as electric industrial vehicles. Information on the Company's clean industrial heavy equipment division can be found atHEVI Corp.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements." Such statements reflect Greenland's current views with respect to future events and are subject to such risks and uncertainties,many of which are beyond the control of Greenland,including those set forth in the Risk Factors section of Greenland's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website,www.sec.gov. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include,without limitation,Greenland's expectations with respect to future performance. In addition,there is uncertainty about the further spread of the COVID-19 virus or the occurrence of another wave of cases and the impact it may have on the Company's operations,the demand for the Company's products,global supply chains and economic activity in general. Should one or more of these risks or uncertainties materialize,or should assumptions underlying the forward-looking statements prove incorrect,actual results may vary materially from those described herein as intended,planned,anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. Greenland does not intend and does not assume any obligation to update these forward-looking statements,other than as required by law.