Greenland Inks Distribution Deal To Sell Industrial EVs In Morocco

Greenland Technologies Holding Corp GTEC signed a new distribution agreement with a minimum potential market value of $5 million to $8.4 million.
Under the agreement, Greenland's distribution partner, Elive Maroc S.A.R.L. A.U., will have the exclusive right to market and sell the company's industrial EV vehicles in Morocco.
The agreement includes fixed and adjustable minimum purchase requirements covering a multi-year term to accommodate Greenland's electric industrial vehicle product line.
Raymond Wang, CEO of Greenland, commented, "We could not have structured a better agreement and we expect this will serve as the blueprint for how we accelerate our sales growth worldwide. Our multi-year agreement has a great deal of upside and we expect this to be another important growth driver for our business."
Price Action: GTEC shares traded lower by 6.78% at $4.95 on the last check Friday.