On September 15, 2025, numerous media sources reported that Wu Baojun, who previously served as the co-founder and president of Leapmotor, has founded Greentech in Australia. The company, which commenced its preparatory work in July 2024, is strategically centered around four core business segments. Firstly, it aims to establish itself as a locally recognized automobile brand while also functioning as an importer and distributor. Secondly, it plans to expand into a multi-brand automotive dealership group. Thirdly, it will venture into the electric vehicle (EV) charging equipment sector, encompassing both the production and operation of such facilities. Fourthly, it will engage in the manufacturing of energy storage equipment.

Greentech has set its sights on initiating localized production by 2028. To achieve this, the company is considering two viable options: acquiring an existing local brand or creating a new one, with the intention of having it manufactured by Chinese automakers. By leveraging the cost-efficiency and technological prowess of Chinese manufacturing, Greentech aspires to pioneer a groundbreaking model for the global expansion of the automotive industry.