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Columbia Teams Up with Cyngn to Deploy Autonomous Stockchasers

Cyngn continues efforts to provide scalable, secure, and reliable AV solutions for material handling and industrial vehicle manufacturers.

Cyngn |

MENLO PARK, Calif., October 13, 2021 — Cyngn, a developer of innovative autonomous driving solutions for industrial and commercial enterprises, today announced its partnership with Columbia Vehicle Group. The partnership marks a key milestone in Cyngn’s ongoing effort to bring scalable, secure, and reliable autonomous vehicle technologies to industrial applications.

Cyngn’s autonomous vehicle capabilities are powered by DriveMod, an end-to-end solution that can be integrated with Columbia vehicles. DriveMod enables vehicles to switch easily between manual, remotely-controlled, and fully autonomous modes.

The pairing of Cyngn’s DriveMod with Columbia’s fleet of electric utility vehicles means material handling organizations can begin to implement autonomy today. 

Greg Breckley, the Director of Business Development of Columbia Vehicle Group, stated, “Every day we hear from customers who are looking to solve increasingly complex transportation challenges. By partnering with Cyngn on our Autonomous Ready fleet, we are expanding our range of working solutions to include self-driving technologies. We are thrilled to partner with Cyngn to bring new tools to market that will address these challenges today and in the future.”

Lior Tal, CEO of Cyngn, added, “Cyngn’s autonomous vehicle technologies are available today to companies that are ready to increase their productivity. We are pleased to be working closely with an organization like Columbia that has five decades of experience and is known for its reliability and willingness to help organizations tap into future-facing technologies like ours.

“The Columbia partnership is a key step forward in Cyngn’s initial roll-out of its autonomous vehicle technologies. We look forward to providing an update on our initial deployment soon.”

Autonomous vehicle technology brings a variety of benefits to industrial organizations. AVs increase efficiency, and continuity, and make it easier for workers to stay focused on their most mission-critical tasks.

To learn more about Cyngn’s autonomous vehicle technologies and the Columbia partnership, please visit https://cyngn.com/columbia.

About Columbia Vehicle Group

Columbia Vehicle Group is an electric vehicle manufacturer whose history dates back to 1946. Based in Reedsburg, Wisconsin, Columbia manufactures vehicles built for work in industrial and commercial environments. Designed to enhance productivity, comfort and utility, Columbia vehicles optimize operational performance in transporting, carrying, and towing - all with zero emissions. To see Columbia’s full lineup of vehicles, visit www.columbiavehicles.com.

Columbia Vehicle Group is part of the Nordic Group of Companies, a family-owned management and manufacturing business headquartered in Baraboo, Wisconsin with operations extending throughout the United States, Mexico, and Europe. For more information visit www.nordicgroup.com.

Contact

Carolyne Sohn
Vice President, The Equity Group csohn@equityny.com
(415) 568-2255

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).

Investor Contact:

Don Alvarez

Media Contact:

Luke Renner

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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