Greenland Technologies designs and manufactures transmission products for forklift trucks, selling exclusively to forklift OEMs in China. Greenland's transmissions cover forklifts ranging from 1 to 18 tons, in both mechanical and automatic shift variants, for internal combustion and electric-powered forklifts. Greenland also makes integrated powertrains for electric forklifts — combining an electric motor, gearbox, and drive axles into a single module — which simplifies manufacturing for OEM customers. Greenland sells on a per-unit basis, with revenue driven by volume and price per transmission. The business is operationally concentrated in Xinchang County, Zhejiang Province, where Greenland owns its manufacturing and R&D facilities and performs key processes like gearbox housing and gear processing in-house. Key cost inputs are processed metal parts, iron castings, and gears sourced from domestic Chinese suppliers, with iron and steel costs being a meaningful margin driver. Hangcha Group is Greenland's largest customer at roughly 15% of revenue, and the top five customers account for about 40% of revenue. Greenland also has a U.S. subsidiary, HEVI, which sells electric construction equipment — loaders, excavators, and forklifts — to end users in North America, sourcing components from China and assembling them in Baltimore. HEVI suspended substantially all operations in 2025 due to tariff uncertainty and currently contributes negligible revenue, though Greenland plans to restart HEVI once the policy environment stabilizes.