Why Greenland Technologies Stock Popped Wednesday

Greenland Technologies Holding (NASDAQ: GTEC) is in an electric vehicle niche that many people wouldn't have considered. With an announcement about some new products today, though, investors are taking notice. As of 10:15 a.m. EDT, Greenland shares were up more than 8%, after having jumped more than 23% earlier in the session. 

The maker of electric industrial and construction equipment announced it has set up an online pre-order reservation service for its electric front-end loader and excavator. Customers can reserve an electric industrial vehicle for a $250 refundable deposit, the company said. It plans to begin delivering the machinery ahead of schedule this August. 

GEX-8000 8 ton electric excavator. Image source: Greenland Technologies.

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Source Fool.com