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Cyngn Publishes White Paper Highlighting the Case for Autonomous Industrial Vehicles in the Future of Manufacturing

Cyngn releases a white paper that examines the critical role autonomous industrial vehicles play in the future of manufacturing.

Cyngn |

MENLO PARK, Calif. Cyngn (or the “Company”) (NASDAQ: CYN), a developer of innovative autonomous driving software solutions for industrial and commercial applications, today announced the release of a white paper that examines the critical role autonomous industrial vehicles play in the future of manufacturing.

Citing various published sources, the white paper highlights the benefits autonomous vehicles provide for manufacturers, such as increased throughput, improved safety, reduced costs, and solutions to labor shortages.

Allowing skilled workers to concentrate their efforts on tasks that utilize their expertise not only drives productivity but allows businesses to scale to meet increasing demands. Skilled workers often spend a large percentage of their day moving goods from one part of the warehouse to another, a task that could easily and reliably be reassigned to autonomous vehicles.

Key takeaways from Cyngn’s white paper:

  1. Increase productivity - Industrial vehicle automation can produce operational efficiency gains of upwards of 50%.
  2. Address labor shortages - By allocating mundane, repetitive tasks to autonomous vehicles, workers can focus on value-added, skilled job functions, further improving productivity.
  3. Scalability - Autonomy allows companies to have a flexible infrastructure and, in turn, efficiently scale their operations relative to increased demand.

To download a complimentary copy of the white paper, click HERE.

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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