Following the company's partnership
announcement with Motrec International Inc, the first-of-its-kind
DriveMod Tugger with automatic unhitching capabilities is capable
of towing up to 6,000 pounds with a 54-inch turning radius.
MENLO
PARK, Calif., Oct. 24,
2023 /PRNewswire/ -- Cyngn Inc. (the "Company"
or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous
driving software solutions for industrial applications, is excited
to offer a sneak peek into its latest innovation: the integration
of its DriveMod Kit with the MT-160 tow tractor
from Motrec International Inc. Designed for industrial,
commercial, and warehousing operations, this electric autonomous
tugger is set to make its initial debut with select customers in
fourth quarter 2023, and expand to a broader customer base in
2024.
This first look is part of a previously
announced partnership to launch an industry-leading autonomous
tugger, the "DriveMod Tugger," which boasts a 54-inch turn radius
and a robust 6,000-pound towing capacity.
The DriveMod Tugger harnesses the power of autonomous driving
through a variant of Cyngn's DriveMod Kit. This kit streamlines the
integration of autonomous vehicle (AV) components, drawing from the
system architecture established with the DriveMod Stockchaser.
Whether installed directly on the manufacturing line or retrofitted
onto existing tuggers, the DriveMod Kit ensures an efficient
deployment process, enabling customers to quickly benefit from
Cyngn's cutting-edge autonomous technology.
Underpinning the DriveMod Tugger's exceptional performance is an
AC Powertrain featuring a maintenance-free brushless electric
motor. This design delivers precise motor control, enhanced maximum
speeds, and improved torque at lower speeds. Furthermore, Cyngn is
introducing an automatic unhitching feature, eliminating the need
for human intervention when releasing towed carts. This innovation
responds to insights from customers, addressing operational
bottlenecks and inefficiencies associated with manual cargo
handling that results in decreased throughput and labor
inefficiencies.
Lior Tal, chief executive officer
of Cyngn, emphasized the significance of this milestone, saying,
"Our partnership with Motrec signifies a pivotal moment in our
journey to revolutionize industrial automation. We are
collaborating with industry leaders such as Ouster and Nvidia to
enhance user experiences and infuse industrial operations with
valuable data. Our sustainable autonomous solutions aim to improve
goods transportation cost-effectively and safely. This partnership
with Motrec builds upon the trusted reputation of both companies
while incorporating Cyngn's state-of-the-art autonomous vehicle
technology."
"Motrec has always focused on innovation without losing sight of
the customer's primary concerns: long-term reliability, no-fuss
maintenance, and safe and easy operation. We are very proud of the
autonomous journey we're embarking on with Cyngn and look forward
to making these self-driving vehicles available to our customers,"
said Benoit Gagner, Director of
Technical Services at Motrec.
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).
Find Cyngn on:
Website: https://cyngn.com
Twitter: http://twitter.com/cyngn
LinkedIn: https://www.linkedin.com/company/cyngn
YouTube: https://www.youtube.com/@cyngnhq
Investor/Media Contact: Bill Ong,
bill@cyngn.com; 650-204-1551
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 SEC, including,
without limitation the risk factors discussed in the Company's
annual report on Form 10-K filed with the SEC on March 17, 2023. 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.
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SOURCE Cyngn