Greenland's Board Approves Spin-off and Creation of Pureplay Industrial EV Company
Greenland Technologies (GTEC) Prnewswire·2024-02-14 20:00
EAST WINDSOR, N.J., Feb. 14, 2024 /PRNewswire/ -- Greenland Technologies Holding Corporation (Nasdaq: GTEC) ("Greenland" or the "Company") today announced that the Company's Board of Directors (the "Board") had approved a spin-off of its drivetrain systems business, and approved a plan to separate its electric industrial vehicles and drivetrain systems segments into two independent, publicly-traded companies. The Company expects to create these companies through a tax-free spin-off of its drivetrain systems ...