- Industrial prospects to experience first-hand Cyngn's flagship DriveMod Stockchaser navigate autonomously at their facilities
- Initial demo day markets include Sacramento, Minneapolis, Houston, and Atlanta
- Additional markets to be announced
- Cyngn sales leaders to host demos, product briefings, and take pre-orders
MENLO PARK, Calif., Aug. 15, 2023 /PRNewswire/ -- Cyngn Inc. (the "Company" or "Cyngn") (Nasdaq: CYN), a developer of AI-powered autonomous driving solutions for industrial applications, today kicked-off the first leg of its Autonomous Vehicle Roadshow in Sacramento, California with its flagship DriveMod Stockchaser. Cyngn is visiting manufacturing and warehousing facilities in key markets across America to demonstrate the efficiency, safety, and performance of its AI-powered Autonomous Stockchaser.
DriveMod, a full-stack autonomous driving solution, is an all-in-one autonomy integration package that enables the conversion of standard industrial vehicles to fully autonomous vehicles by utilizing sensors, computers, and artificial intelligence via Cyngn's proprietary DriveMod software. DriveMod can be installed on new vehicles off the assembly line or retrofitted into existing vehicles.
The Autonomous Vehicle Roadshow will:
- Leverage new developments from Cyngn's recent Enterprise Autonomy Suite (EAS) 9.1 release that streamlined deployment tools and enables the Company to demonstrate DriveMod Stockchasers operating autonomously within hours of touching down at a new site.
- Showcase the DriveMod Stockchaser, an autonomous mobile robot for use in manufacturing, warehouse, and logistics industries that has the capability to tow up to 6,000 pounds.
"We know what a major impact hands-on product experience can have for potential customers, especially with leading-edge technology like robots and artificial intelligence. We are meeting with potential customers to provide a first-hand opportunity to experience the DriveMod Stockchaser and learn about the many benefits, including enhanced safety and greater efficiency in operations," said Lior Tal, CEO of Cyngn. "As automation in manufacturing and logistics is quickly becoming a valuable tool across the industry, it's important that we are in the field, galvanizing real-world adoption at our potential customers' facilities."
Sacramento marks a meaningful kickoff location for Cyngn as the Company is headquartered in Menlo Park, and Cyngn already serves U.S. Continental with a commercial DriveMod Stockchaser deployment in Southern California. California plays a significant role in American manufacturing. The state has seen annual growth in manufacturing output for years, surpassing $324 Billion of manufacturing output in 2019. Despite this economic growth, the number of employees that are employed in California manufacturing is hovering around 30-year lows with only approximately 1.3 million currently employed compared to almost 2 million in the early 1990's. Cyngn aims to help its customers address the increasing pressure from labor shortages with its EAS solutions.
To register for an AVR or to request a Demo Day at your facility, please visit https://get.cyngn.com/roadshow.
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).
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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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