HEVI Announces Transition to a More Aggressive Dealer Model to Meet Strong Customer Demand for its Electric Industrial Equipment

EAST WINDSOR, N.J., Oct. 1, 2024 /PRNewswire/ -- HEVI Corp. ("HEVI" or the "Company"), a manufacturer of all-electric heavy equipment, today announced its transition to a more aggressive dealer model to meet strong customer demand for its expanded line of electric industrial equipment.

The new dealer model will build upon HEVI's successful Authorized Service Provider (ASP) program, and the Company's latest product launches of two new game-changing all electric vehicles, model H65L and model H55L front wheel loaders.

Raymond Wang, CEO of HEVI, commented, "Simply put, we needed to make this change to a more aggressive dealer model given the increased sales opportunities we are seeing across the U.S. Customers have responded resoundingly for our expanded line of electric industrial vehicle following our increased cadence of new all electric vehicle launches, making this the right time for the strategic shift."

"Our new dealer model will allow us focus solely on HEVI's brand, with dealers having direct access to Original Equipment Manufacturer ("OEM") parts. Customers will continue to enjoy our comprehensive warranty coverage and knowledgeable support. At the same time, we can now hold our dealers to a higher level of accountability and service quality. When you add it together, customers will get an even better end to end experience, and HEVI will be even better positioned to capture the increased revenue opportunities all around the company."

For more information on HEVI's exciting new dealer program or to join, dealers can contact the Company using info@gethevi.com.

About HEVI Corporation

HEVI is a developer and manufacturer of sustainable heavy machinery such as all-electric heavy construction and farm machinery. The Company is a wholly owned subsidiary of Greenland Technologies Holding Corporation (Nasdaq: GTEC). Information on the Company's clean industrial heavy equipment can be found at HEVI at HEVI Corp.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements." Such statements reflect HEVI's current views with respect to future events and are subject to such risks and uncertainties, many of which are beyond the control of HEVI, 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, HEVI's expectations with respect to future performance. 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. HEVI does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.

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SOURCE Greenland Technologies Holding Corporation