RTTNews | Feb 18, 2021 09:46AM EST

09:46 Thursday, February 18, 2021 (RTTNews.com) - Shares of Greenland Technologies Holding Corp. (GTEC), a China-based manufacturer of electric industrial vehicles, are skyrocketing more than 208 percent or $15.73 in Thursday's morning trade at $23.28, after hitting a new 52-week high of $25.75.

Thursday, Greenland Technologies and Fujian South China Heavy Machinery Manufacture Co. Ltd. or SOCMA, a company specialized in manufacturing heavy industrial machinery and vehicles, said they have entered into a co-operation agreement to utilize SOCMA's existing supply-chain and certain technologies to support Greenland's production of electric industrial vehicles in the U.S.

The agreement also represents a commitment by Greenland to invest in the U.S. as a key center of innovation in the global electric vehicle market.

Greenland Technologies has traded in a range of $1.12 to $25.75 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3170915/stock-alert-greenland-technologies-hits-new-52-week-high-on-deal-with-socma.aspx)

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