Greenland completed the acquisition of Zhongchai Holding for $101m.

Greenland, a blank check company, completed its $101m merger with Zhongchai Holding, a developer and manufacturer of traditional transmission products for material handling machinery and a developer of a robotic cargo carrier prototype. "We are entering an exciting phase for our company where the resources of the public capital markets will be available to enhance our R&D efforts and business growth in the transmission industry. We believe that this will enable us to execute more rapidly and efficiently in delivering and scaling new designs and products to the world's connected consumers," Peter Zuguang Wang, Greenland's Chairman.