Assurant Partners with HEVI to Provide Extended Service Contracts

EAST WINDSOR, N.J., July 23, 2024 /PRNewswire/ -- HEVI Corp. ("HEVI" or the "Company"), a manufacturer of all-electric heavy equipment, today announced it is partnering with Assurant, Inc. (NYSE:AIZ), a leading global business services company that supports, protects, and connects major consumer purchases like automobiles, as well as commercial equipment including heavy construction, agriculture and forestry equipment.

With more than 30 years of equipment protection expertise, Assurant is a market leader in protection products for the commercial equipment industry, providing a full suite of protection products and services, including extended service protection plans, physical damage protection, portfolio protection, insurance tracking services and more, through point-of-sale solutions for equipment dealers, original equipment manufacturers, and financed equipment protection for financial institutions.

Through this partnership, HEVI customers will be able to purchase an Assurant Extended Service Contract (ESC) to protect covered equipment beyond the manufacturer's base warranty period.

Raymond Wang, CEO of HEVI, commented, "We are constantly enhancing and simplifying the purchasing and ownership experience of HEVI's all-electric heavy equipment. Customers are our top priority and by partnering with Assurant, we can give them even higher confidence with a top-tier extended service contract that ensures long-term coverage. We expect this extra layer of protection will serve as another positive catalyst as we work to increase sales and build long-term value to our shareholders."

"We are pleased to offer industry-leading protection products for the rapidly expanding HEVI industrial vehicle franchise," said Dan Lenczner, SVP, Affinity & Commercial Equipment, Assurant Global Automotive. "As a leader in both heavy equipment and automotive electric vehicle (EV) protection solutions, Assurant is well positioned to support HEVI in bringing innovative solutions to their electric heavy equipment business. This also aligns with our mutual sustainability goal of bringing solutions that help minimize the carbon impact on our global climate." 

About Assurant Global Automotive 

Assurant Global Automotive is a leading global solutions provider in the automobile and commercial equipment industries. Automotive industry partners span manufacturers, large group and independent dealers, agents, third-party administrators, financial institutions, insurance providers, and vehicle technology companies. With over 50 years of automotive industry experience, Assurant protects 55 million motor vehicles in 19 countries by providing innovative solutions like vehicle service contracts, guaranteed asset protection, and ancillary products, while providing dealer performance management and training, participation options, and more. Assurant Global Automotive is also a market leader in protection products for the commercial equipment industry, with more than 30 years of equipment protection expertise with the acquisition of EPG in 2020. Assurant provides a full suite of protection products and services for equipment dealers and financial institutions supporting commercial equipment. These include extended service protection plans, physical damage protection, guaranteed asset protection, automatic insurance, portfolio protection, insurance tracking services and more.

About Assurant

Assurant, Inc. (NYSE:AIZ) is a leading global business services company that supports, protects and connects major consumer purchases. A Fortune 500 company with a presence in 21 countries, Assurant supports the advancement of the connected world by partnering with the world's leading brands to develop innovative solutions and to deliver an enhanced customer experience through mobile device solutions, extended service contracts, vehicle protection services, renters insurance, lender-placed insurance products and other specialty products.

Learn more at assurant.com.

About HEVI Corporation

HEVI is a developer and manufacturer of sustainable heavy machinery such as all-electric heavy construction and farm machinery. The Company is a wholly owned subsidiary of Greenland Technologies Holding Corporation (NASDAQ:GTEC). Information on the Company's clean industrial heavy equipment can be found at HEVI at HEVI Corp. 

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking statements." Such statements reflect HEVI's current views with respect to future events and are subject to such risks and uncertainties, many of which are beyond the control of HEVI, including those set forth in the Risk Factors section of Greenland's Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission ("SEC"). Copies are available on the SEC's website, www.sec.gov. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, HEVI's expectations with respect to future performance. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated or expected. Statements contained in this news release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. HEVI does not intend and does not assume any obligation to update these forward-looking statements, other than as required by law.

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SOURCE Greenland Technologies Holding Corporation