MENLO
PARK, Calif., Oct. 15,
2024 /PRNewswire/ -- Cyngn Inc. (Nasdaq: CYN) today
announced the expansion of its dealer network to include
Raymond West. A leading distributor
and integrator of intralogistics solutions, Raymond West will begin selling Cyngn's
autonomous DriveMod Tugger. The autonomous tugger integrates
Cyngn's AV technology with Motrec's MT-160.
"With 21 branches across the West Coast, Raymond West is an impressive company. It boasts
more than $800 million in annual
revenue — and we are excited to be able to add Cyngn's autonomous
vehicles to their catalog," said Lior
Tal, CEO of Cyngn. "Motrec's industrial vehicles are known
for high towing capacity and reliability. We are excited to equip
Raymond West with the tools and
training needed to offer our self-driving industrial vehicles to
their customers. Their success is integral to our success."
Raymond West's decision to join
Cyngn's Dealer Network came after a successful summit hosted at
Cyngn's Menlo Park headquarters,
where key decision-makers experienced the company's autonomous
mobile robots (AMRs) firsthand.
"We've identified several customers who stand to gain immensely
from the DriveMod Tugger," stated Marc
Breton, Vice President of Sales at Motrec. "Autonomous
industrial vehicle technology is revolutionizing manufacturing and
logistics facilities, and the positive feedback from our sales
channels confirms that automating a high-tow capacity vehicle like
the MT-160, renowned for its quality, is a game-changer."
Cyngn plans to continue expanding its Dealer Network by adding
more distribution and integration partners in the future. To join
Cyngn's dealer network, please visit
https://www.cyngn.com/company/dealer-network.
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: cyngn.com
- Twitter: twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
- YouTube: https://www.youtube.com/@cyngnhq
Investor Contact:
Don Alvarez, CFO
investors@cyngn.com
Media Contact:
Luke Renner, Head of Marketing
media@cyngn.com
About Raymond West.
Raymond West is a leading global
provider of best-in-class material handling products and
intelligent intralogistics solutions that help you Store, Move and
Optimize your operations, regardless of scale. Their aim is to
deliver the utmost quality and to work for continuous improvement
every day, in every aspect of their business. The company values
the trust that they've earned through decades of proven performance
and hands-on innovation. Their clients can rely on them to
exceed their expectations by providing supply chain knowledge as
well as commitment to ensure their business is up and running
24/7.
FORWARD-LOOKING STATEMENTS:
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act and
other securities laws. Words such as "expects," "anticipates,"
"intends," "plans," "believes," "seeks," "estimates" and similar
expressions or variations of such words are intended to identify
forward-looking statements. Forward-looking statements are not
historical facts, and are based upon management's current
expectations, beliefs and projections, many of which, by their
nature, are inherently uncertain. Such expectations, beliefs and
projections are expressed in good faith. However, there can be no
assurance that management's expectations, beliefs and projections
will be achieved, and actual results may differ materially from
what is expressed in or indicated by the forward-looking
statements. Forward-looking statements are subject to risks and
uncertainties that could cause actual performance or results to
differ materially from those expressed 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 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. References and links to websites have
been provided as a convenience, and the information contained on
such websites is not incorporated by reference into this press
release. Cyngn is not responsible for the contents of third-party
websites.
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SOURCE Cyngn