WINDSOR, N.J., Oct. 20,
2022 /PRNewswire/ -- Greenland Technologies Holding
Corporation (NASDAQ: GTEC) ("Greenland" or the "Company") today announced
it has selected Cyngn Inc. ("Cyngn") (Nasdaq: CYN), a developer of
innovative autonomous driving solutions for industrial and
commercial applications, as the exclusive supplier of Infinitracker
asset tracking systems for Greenland's HEVI electric industrial vehicles
When customers purchase HEVI forklifts, excavators, or loaders,
they will now have the ability to track the location of those
vehicles: HEVI will include an Infinitracker installed on each
purchased vehicle, as a value-added item for HEVI customers.
When customers receive their new vehicles, they can register the
Infinitracker asset tracking device and begin monitoring their
vehicle through a simple web portal. Each Infinitracker unit
contains sensors for location and temperature, and Infinitracker
also serves as an IoT Gateway, which allows data from other
Bluetooth sensors to be collected. Infinitracker's battery lasts
for years without charging, which enables vehicles to be tracked
and data to be collected from nearby sensors even when vehicles are
Raymond Wang, CEO of Greenland, commented, "Vehicle tracking is an
important feature for our customers, who want to leverage location
tracking to maximize efficiency of their industrial equipment
fleets. Infinitracker's long battery life and features such as LTE
Triangulation were key considerations in our choice to ship them
with all new purchases of our all-electric heavy equipment."
Lior Tal, Cyngn's CEO, remarked,
"We are pleased to be aligned with HEVI's vision of sustainable,
electric industrial vehicles. Infinitracker expands on Cyngn's
autonomous vehicle offering that is central to our Enterprise
Autonomy Suite, which provides customers with valuable data
insights that reinforce the connections between our AV and data
analytics products with IoT and Industry 4.0."
Find more information about Cyngn's Infinitracker here and
Greenland's HEVI electric
industrial vehicles here.
HEVI, Greenland Technologies Holding Corporation's (Nasdaq:
GTEC) clean industrial heavy equipment brand, produces
all-electric, industrial-sized front loaders, excavators and other
industrial equipment. HEVI's strategy is focused on developing and
manufacturing clean technology solutions, as well as helping
customers transition their fleets to clean vehicles. Find more
information at www.gethevi.com.
Cyngn is an autonomous vehicle technology company that is
focused on addressing industrial uses for autonomous vehicles.
Cyngn believes that technological innovation is needed to enable
adoption of autonomous industrial vehicles that will address the
substantial industry challenges that exist today. These challenges
include labor shortages, lagging technological advancements from
incumbents, and high upfront investment requirements. Cyngn
addresses these challenges with its Enterprise Autonomy Suite,
which includes DriveMod (modular industrial vehicle autonomous
driving software), Cyngn Insight (customer-facing software suite
for monitoring/managing AV fleets and aggregating/analyzing data),
and Cyngn Evolve (internal toolkit that enables Cyngn to leverage
data from the field for artificial intelligence, simulation, and
To learn more about Cyngn's autonomous vehicle technologies,
please visit https://cyngn.com/.
Find Cyngn on:
- Website: https://cyngn.com
- Twitter: http://twitter.com/cyngn
- LinkedIn: https://www.linkedin.com/company/cyngn
This press release contains statements that may constitute
"forward-looking statements." Such statements reflect Greenland's current views with respect to
future events and are subject to such risks and uncertainties, many
of which are beyond the control of Greenland, including those set forth in the
Risk Factors section of Greenland's Annual Report on Form 10-K and
Definitive Proxy Statement on Schedule 14A 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, Greenland's expectations with respect to
future plans and performance. In addition, there is uncertainty
about the further spread of the COVID-19 virus or the occurrence of
another wave of cases and the impact it may have on the Company's
operations, the demand for the Company's products, global supply
chains and economic activity in general. 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. Greenland
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