Deployments of Cyngn's DriveMod Tugger and Forklift have now included four key sectors: Manufacturing, Consumer Packaged Goods, Logistics, and Defense
Use cases are diverse and highlight adaptability, scalability, and different value propositions of Cyngn's solutions.
Reflects market demand to adopt industrial automation across Cyngn's broadening customer base.
MENLO PARK, Calif., Feb. 19, 2025 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN) today announced that it has deployed DriveMod Tuggers and DriveMod Forklifts to serve use cases across several industries, including Manufacturing, Consumer Packaged Goods, Logistics, and Defense. This milestone reinforces Cyngn's leadership in delivering innovative autonomous vehicle (AV) solutions to industries requiring cutting-edge efficiency, safety, and adaptability.
Cyngn Deploys Autonomous DriveMod Vehicles Across Multiple Industries.
"The strong demand we're seeing across industries like Manufacturing, Consumer Packaged Goods, Logistics, and Defense highlights the clear product-market fit of our DriveMod technology," said Lior Tal, Cyngn's CEO. "From the rigorous standards of the defense sector to the high-volume operations of consumer packaged goods, our solutions have proven their ability to meet the unique demands of each environment. These deployments validate the need for scalable, autonomous solutions and reinforce the growing appetite for innovation in industrial automation."
Below, we summarize key deployments and their significance across these sectors:
Cyngn recently secured a signed Letter of Intent (LOI) from a major automotive supplier to deploy multiple DriveMod Tuggers in the first half of the year. DriveMod Tuggers will enable this global automotive supplier to optimize material handling across its expansive network of facilities, increasing operational efficiency and minimizing downtime.
Additionally, in January, Cyngn initiated a production deployment with COATS Company, the largest full-line wheel service equipment manufacturer in North America. The DriveMod Tugger deployment is underway at COATS' 150,000+ square foot manufacturing facility in La Vergne, Tennessee.
The fast-paced Consumer Packaged Goods (CPG) sector presents unique challenges, including high throughput demands and safety considerations. Cyngn's recent deployment of DriveMod Tuggers at a major CPG distribution company highlights the versatility of EAS in addressing these challenges.
By integrating DriveMod Tuggers into its intra-facility operations, the unnamed CPG giant aims to streamline distribution workflows.
Defense: Meeting Stringent Industry Standards
Cyngn's DriveMod Tugger deployment at a major defense contractor's facility showcases the adaptability of its AV solutions in highly regulated environments. While specific details remain confidential for security reasons, this deployment reflects Cyngn's capability to meet the rigorous operational needs of the aerospace and defense sector.
Logistics: Enabling Autonomous Fulfillment
Cyngn successfully deployed its DriveMod technology at Global Logistics and Fulfillment LLC's Las Vegasdistribution center, integrating autonomous vehicles into its warehouse operations. The deployment improved workflow efficiency and provided enhanced operational visibility, enabling GLF's team to focus on mission-critical tasks. This success showcased the scalability of Cyngn's solutions in logistics-intensive environments.
About Cyngn
Cyngn develops and deploys scalable, differentiated autonomous vehicle technology for industrial organizations. Cyngn's self-driving solutions allow existing workforces to increase productivity and efficiency. The Company addresses significant challenges facing industrial organizations today, such as labor shortages, costly safety incidents, and increased consumer demand for eCommerce.
Cyngn's DriveMod Kit can be installed on new industrial vehicles at end of line or via retrofit, empowering customers to seamlessly adopt self-driving technology into their operations without high upfront costs or the need to completely replace existing vehicle investments.
Cyngn's flagship product, its Enterprise Autonomy Suite, includes DriveMod (autonomous vehicle system), Cyngn Insight (customer-facing suite of AV fleet management, teleoperation, and analytics tools), and Cyngn Evolve (internal toolkit that enables Cyngn to leverage data from the field for artificial intelligence, simulation, and modeling). For all terms referenced within, please refer to the Company's annual report on Form 10-K with the Securities and Exchange Commission (the "SEC") filed on March 7, 2024.
Media Contact: Luke Renner, Head of Marketing media@cyngn.com
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission SEC, including, without limitation the risk factors discussed in the Company's annual report on Form 10-K filed with the SEC on March 7, 2024. Readers are cautioned that it is not possible to predict or identify all the risks, uncertainties and other factors that may affect future results. No forward-looking statement can be guaranteed, and actual results may differ materially from those projected. Cyngn undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.
